Marine warranty surveyor
Independent approval of a heavy-lift or project operation before it happens.
Definition
An independent surveyor appointed under a warranty in the policy to review and approve the method for a critical operation — a heavy lift, a load-out, a tow, a transport engineering analysis — before it takes place, and to issue a certificate of approval. Underwriters impose the warranty on project cargo because the exposure is concentrated in a handful of moments.
Why it decides money
It is a condition, not a courtesy. Proceeding with a lift without the approval can suspend the cover for that operation.
Related terms
- Delay in start-up
- Project cover for the financial consequences of late equipment.
- Warranty (in insurance)
- A promise in the policy — since 2015, a suspensive one rather than a fatal one.
More in market and parties
InsuranceScanner is an insurance intermediary, not an insurer — see the Terms for our role. Nothing here is a personal recommendation that a particular cover, sum insured or deductible is suitable for you. Where anything on this page conflicts with the certificate, policy schedule or wording issued by an insurer, that document governs.