What is a COFR guaranty ? Any vessel over 300GT that requires entry into US waters must apply for a COFR (certificate of financial responsibility) from the US Coast Guard. In order for a COFR to be issued it must be supported by a COFR guaranty issued to the US Coast Guard by an approved guarantor. SIGCo will issue the guaranty to support a federal COFR application upon provision of a signed premium quotation and COFR facility agreement, payment of premium and evidence of entry into an approved P&I Club. Guaranties are renewed annually.Complete an online application Download a PDF application form
What is a Voyage Declaration? Tankers are charged by SIGCo based on voyages to the US Exclusive Economic Zone (EEZ). The EEZ incorporates the USA, Puerto Rico, Guam, US Virgin Islands, American Samoa and the Northern Marianas.
SIGCo defines a Voyage as:
The entry into the US EEZ for a period of up to 30 days. The voyage will terminate on the earlier of expiry of the 30 day period or departure from the EEZ. On expiry of the 30 day period, in the event that the vessel is still in the US EEZ, a new voyage will be deemed to commence. The number of ports visited within the 30 day period is not pertinent for the purposes of this definition.
SIGCo charges up to 10 voyages on the above basis each policy year. The SIGCo voyage declaration system requires input of each call to port made by either a single vessel or fleet of vessels. A voyage can consist of one or more calls to a port, or offshore location. The resulting declaration will be sent to SIGCo and copied to the return email address. SIGCo will then invoice for voyages performed using the information submitted, as it applies to the definition above.Make a declaration Download a PDF application form
What is a CG5585 ? Any vessel over 300GT that requires entry into US waters must apply for a COFR (certificate of financial responsibility) from the US Coast Guard. The application form to the US Coast Guard is termed a CG5585. SIGCo will make the CG5585 application to the US Coast Guard on behalf of the operator upon provision of a completed CG5585 application form and a signed letter of authority for any vessel where we already issue the guaranty. SIGCo does not charge for making the CG5585 application and absorbs all the associated costs. COFRs are renewed every 3 years. SIGCo will also effect any changes to the COFR that must be reported to the US Coast Guard while it remains valid.Complete an online application Download a PDF application form
What is an ICB ? An ICB (International Carrier Bond) is required by US Customs for any vessel visiting a US port to offload cargo. The bond is surety against fines by US Customs for incomplete or incorrect documentation with regard to AMS (Automated Manifest System) for cargo and the APIS (Automated Passenger Information System) for crew and passengers. SIGCo will make an ICB application to US Customs on behalf of the client upon provision of a signed procurement agreement, payment of the fee and a signed special power of attorney.Complete an online application Download a Word document application form
Cyber Hull Insurance
What is Cyber Hull Insurance ? The emergence of Cyber related exposures has led the insurance market to exclude cover in many cases from the Hull and Machinery (“H&M”) cover that traditionally provides the shipowner with that required financial security. SIGCo has introduced a defined perils policy designed to provide H&M cover in circumstances where, due to a Cyber related cause, the H&M policy does not respond.Download an EXCEL application form
Cyber Loss of Hire Insurance
What is Cyber Loss of Hire Insurance ? The emergence of Cyber related exposures has led the insurance market to exclude cover in many cases from the Loss of Hire (“LoH”) cover that traditionally provides the shipowner with that required financial security. SIGCo has introduced a defined perils policy designed to provide LoH cover in circumstances where, due to a Cyber related cause, the LoH policy does not respond.Download an EXCEL application form