Marine Insurance

No industry can afford to go into the high seas unprotected. Prudential Guarantee shields your business from possible liabilities with a range of insurance policies suited to your maritime needs. When the unpredictable happens Prudential Guarantee is the name you can trust.

Marine Insurance indemnifies the assured, subject to the limits of the contract, for losses incidental to a marine adventure. A marine adventure is a voyage or a period of time during which property is exposed to maritime perils.

Marine Insurance has three major lines:

  1. Marine Cargo

This covers goods, property and/or merchandise in transit whether on land, sea or air. The standard coverage provided under the Marine Cargo Insurance policy are:

  • Physical loss or damage to insured goods which may result in either total loss (actual or constructive to the insured's property) or partial damage (known as particular average)
  • Expenses to prevent or reduce loss (sue and labor)
  • Forwarding charges for goods discharged short of destination as a result of an insured peril
  • General Average or the sacrifice of one person's goods in order to save a venture; the sacrifice will be made good by those whose goods are saved.

The Marine Cargo policy may be extended to accommodate the following:

The products under Marine Cargo Insurance are:

  • Marine Open Policies
  • Inland Marine / Truck Risks Coverage
  • Special coverage for project cargo including consequential loss
  • Container Van Insurance
  • Cover specially designed for certain commodities (Commodity Clauses, Frozen Meat, Frozen Food, Coal, Oil, Rubber, etc.)

     2.  Hull and Machinery

This insurance covers ships or vessels, their hull, machinery and equipment including liability arising from collision with other vessels. Its standard coverage are:

  • Physical Loss or damage to a ship's hull, machinery or equipment which may result in either total loss (actual or constructive to the insured's property) or partial damage (known as particular average)
  • Expenses to prevent or reduce loss (sue and labor, salvage charges) General average contributions
  • Liability arising from collision with other vessels

Possible extensions of coverage for this line are:

  • War and Strikes Risks and various acts of civil disturbance
  • Additional Perils clauses providing extended cover for a vessel's engines and machinery
  • Costs for sighting of a ship's bottom even in the event of a potential claim

The products under the Hull and Machinery Insurance are:

  • Builder's Risks – it covers for the loss or damage to a vessel while under construction including materials which are not yet on board the ship at the time of loss.
  • Mortgagee Interest – this serves to protect the innocent mortgagee who suffers financial loss arising from some act or omission of a mortgagee which prevents him from claiming under normal marine, war and strikes, protection and indemnity insurers.
  • Port Risks Cover – it provides cover for vessels confined to a port or with limited navigation.
  • Yacht Insurance
  • Marina or Yacht Club Insurance
  • Limited Coverage (named peril basis)
  • Total Loss Only Coverage

     3.  Ship Owner's Liabilities (Protection and Indemnity)

This protects the ship owner or manager from any legal liabilities which he may incur in operation of a ship.

This insurance line provides certain forms of third party liability to which the ship operator is exposed (e.g. liability for damage to wharves, piers etc.). It also covers contractual liabilities for carriage of goods, employment of crew, etc.

For inquiries, please call 810-4916 / 878-3000 or e-mail at

PGA Sompo Japan Insurance Inc.:


Filinvest corner Commerce Ave.,
Westgate Center, Filinvest Corporate City
Alabang, Muntinlupa City

201 EDSA, Mandaluyong City
1554 Philippines

PGA Cars Centre, 11th Ave., corner 28th St,
Bonifacio Global City, Taguig


201 EDSA, Mandaluyong City
1554 Philippines


PGA Cars Centre, 11th Ave.
Bonifacio Global City
1634 Philippines


Hyundai North EDSA:
Part of the PGA Cars, Inc. Group
1174 EDSA, Balintawak, Quezon City

1st Life:

R. Coyiuto Securities, Inc.:

Member: Philippine Stock Exchange
5th Floor Corinthian Plaza
121 Paseo de Roxas St.
Legaspi Village, Makati City

Pioneer Tours:

290-292 Dasmarinas corner Marquina St.
Binondo, Manila

Coyiuto Foundation:

COYIUTO HOUSE, 119 C. Palanca St.
Legaspi Village, Makati City