Insurance & Risk Management

General

Over-the-Side (OTS) insurance will provide you with an insurance endorsement to WHOI's OTS insurance policy for equipment used in the field during at sea expeditions. Coverage includes both while on deck and over the side. You will want to include all days at sea in the project start/end dates because transit coverage ends when the equipment is loaded onto the deck of the vessel and does not resume until it is offloaded from the vessel at the end of the cruise.

New Rates when the vessel requires waivers!!


WHOI's insurer has added a new premium rate as of July 8, 2014 for when a waiver is signed with the vessel. If the science party signs a waiver in order to sail on any vessel, and that waiver does not exclude damage to property, a new premium rate of $4.50 per $100 of valuation per annum, prorated to the number of days requested, takes effect. There is a $1,000 minimum charge. Also, the deductible changes to a coinsurance of 25% of the total insured value when equipment is over the side. Otherwise the standard deductible of 20% of declared values per occurrence with a $50,000 minimum and $500,000 maximum applies.

When there is no waiver signed or the waiver is amended to exclude property damage, OTS endorsements are subject to a premium rate of $2.93 per $100 of valuation per annum, prorated to the number of days requested. A $1,000 minimum charge applies. The deductible is 20% of declared values per occurrence with a $50,000 minimum and $500,000 maximum.

To request a quote or over the side insurance see the Over the Side Request Page.

See the Over the Side Insurance FAQ's for answers to frequently asked questions.

If your equipment is in regular use throughout the year, you can add it to the Schedule of Equipment for the same rates and terms as for one time projects. Please contact the Risk Management Coordinator for details and to schedule equipment.

Please note: scheduled equipment is no longer automatically covered for transit. To obtain cover for transit, submit a shipping request with values, as you would for any other shipment.

Last updated: July 21, 2014