Mortgagee’s Interest Insurance (MII), Mortgagee’s Additional Perils Insurance (MAPPI), and Innocent Owner’s Insurance (IOI)
Litoral Underwriting’s MII, MAPPI and IOI solutions provide specialist protection for lenders and asset owners in the maritime sector, safeguarding financial interests when underlying insurance policies fail to respond to a loss.
Product Information
Designed for banks, financial institutions, and vessel owners involved in ship financing and leasing, Litoral’s MII, MAPPI and IOI coverage protects against situations where underlying marine insurance policies do not respond to an otherwise valid claim. With specialist underwriting expertise and strong market capacity, we help lenders and asset owners protect their financial exposure in complex maritime financing structures.
About
Who can benefit from this insurance?
This insurance is designed for:
Banks and ship finance lenders: protection for financial institutions providing loans secured against vessels, ensuring their financial interest is protected if the borrower’s insurance fails to respond.
Ship leasing companies: coverage for leasing companies that own vessels and lease them to operators under long-term charter arrangements.
Maritime investors and asset owners: protection for investors whose financial interests rely on the insured value of a vessel.
International shipping finance institutions: coverage supporting complex global ship financing transactions involving multiple insurers and jurisdictions.
Core areas of cover
Mortgagee’s Interest Insurance protecting lenders when hull insurance claims are not paid
Additional perils protection for liabilities or exposures not covered under underlying policies
Indemnity for lenders if claims fail due to policy breaches, misrepresentation or non-disclosure
Protection against financial losses caused by vessel destruction or unseaworthiness
Coverage designed to protect loan value, accrued interest, and associated recovery costs
Insurance supporting ship leasing and bareboat charter financing structures
Specialist cover responding when underlying marine insurance does not pay valid claims
Summary
Capacity
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Coverage typically structured to protect 110–120% of the outstanding loan value, accounting for principal loan amount, accrued interest, and recovery costs.
Geographical Locations
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Worldwide coverage, with a strong focus on international maritime financing markets including Asia and global shipping hubs.
Types of Clients
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From international banks and financial leasing companies to maritime investors and ship financing institutions, Litoral provides specialist protection for organisations involved in vessel financing and leasing structures.
How can I contact you?
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You can reach us anytime via our contact page or email. We aim to respond quickly—usually within one business day.
How it works
Streamlined Risk Submission Process
When a broker submits a risk enquiry, Litoral Underwriting reviews the submission and works closely with our supporting insurance principals to assess the exposure and determine appropriate coverage terms.
Specialist Underwriting Support
Once the submission is reviewed, our underwriting team works directly with brokers to tailor coverage based on the client’s financing structure and risk profile. We aim to respond quickly with clear terms and guidance to support efficient placement of specialist insurance solutions.
Get in Touch
Whether you have a question, an idea, or just want to say hello, feel free to reach out—we’re here to help.
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