Operating a maritime business comes with some unique considerations. To protect your assets and employees, a comprehensive insurance plan is required. MEL coverage, or Maritime Employers Liability insurance, is special coverage designed to meet the specific demands placed on maritime companies. This policy can provide coverage against an array of risks and dangers.
Reported by the professionals at Merrimac Marine Insurance, MEL is designed to protect employees of your business when they are on vessels belonging to other individuals or entities. It can also provide coverage when you have people aboard your own vessels who are not employees of your company, which can reduce the odds of a simple accident turning into a financial and legal nightmare. Common industries covered by this insurance include:
- Scientific research
- Drilling and surveying
- Artisans and contractors
Reduce Legal and Financial Risks
Having a standard insurance policy is usually not enough to fully protect your business from the unique risks that exist. An option like MEL can cover all of your bases and provide you with peace of mind. While you cannot control what happens in the future, you can put your best foot forward to minimize the impact of any of the threats that do exist.
Though operating a maritime business comes with unique risks, it is easy to face tomorrow with proper insurance coverage. Review your options to select a policy that meets all of your needs.