AXA XL offers marine hull, war and construction coverage for special exposures as well as standard risks.
Learn MoreWith stringent regulations coming into force, the need to combat climate change is at the forefront of the maritime industry. At AXA XL, we understand that to reduce carbon emissions and contribute to global carbon neutrality, you need a viable approach to measure emissions, define reduction plans in line with science-based targets (SBTi), and contribute to carbon removal and avoidance projects. That’s why we’ve launched our Excess Emissions Insurance policy.
Excess Emissions Insurance covers your vessel’s carbon emissions in the event of a fortuity (covered by our AXA XL UK & Lloyd’s Marine Hull policy). It functions by contributing to premium carbon removal and avoidance projects for the additional emissions impact caused by course deviations such as port of refuge, port of repairs, picking up spares or other reasonable reasons (subject to a valid hull policy claim).
Unlike traditional insurance, where you’d be offered a cash pay-out, the indemnity is provided as voluntary carbon credits equivalent to the excess emissions emitted.
To be eligible for our Excess Emissions Insurance policy, you must:
Product is best suited for clients with vessels over 5,000 GT.
To find out more about Excess Emissions Insurance, please contact your UK & Lloyd’s AXA XL Marine underwriter for more information.
Sundeep Khera
Head of Marine UK & Lloyd’s market and GCUO Marine Hull
sundeep.khera@axaxl.com
Matthew Gysbers
Underwriting Manager, Hull & War
matthew.gysbers@axaxl.com
Annabelle Towler
Marine Hull Underwriter
annabelle.towler@axaxl.com
Geographical coverage is for informational purposes only. Product and service offers can vary based on location, industry, risk profile and unique business needs.
This summary does not constitute an offer, solicitation or advertisement in any jurisdiction, nor is it intended as a description of any products or services of AXA XL. All insurance products, including the applicability of coverages, limits and exclusions, are subject to their full terms and conditions. AXA XL is a division of AXA Group providing products and services through three business groups: AXA XL Insurance, AXA XL Reinsurance and AXA XL Risk Consulting. AXA, the AXA and XL logos are trademarks of AXA SA or its affiliates. © 2023
You are contacting AXA XL, the P&C and Specialty division of AXA. We provide Re/Insurance to mid-sized and multinational companies, and some high-net-worth individuals.
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