Marine delay in start-up insurance

This chapter analyses the wording released by the Joint Cargo Committee and attempt to raise issues which can turn contentious in the future along with a particular focus on the relevant MIA provisions. In marine Delay in start-up (DSU) policies, site owners can be insured along with banks as lenders. Principals or project owners have interest firstly in the safe arrival of the project cargo in the sense that if the goods arrive in a damaged state, there would be a need to replace the goods or recondition them: these matters are within the scope of the marine cargo section of the cover. Suppliers of cargo to a project site can be insured as contractors under marine cargo insurance policies. However whether contractors have insurable interest in a marine DSU section is a matter which needs further attention.