BankServe provides insurance due diligence services to Commercial Lenders, Export Credit Agencies, Multilaterals, Bond Issuers and other parties involved in project financing.
The team specialises in LNG, upstream energy, rigs, FPSOs, power, petrochemical and pipelines and currently is the Lenders’ Insurance Advisor on many of the world’s largest projects.
Team members also conduct seminars about the insurance aspects of project financing for finance parties or lawyers.
The terms of a standard loan agreement, or ship mortgage, the marine insurances arranged on each mortgaged ship must be approved and acceptable to bank mortgagees or financiers. BankServe’s consultancy services will review such insurances on behalf of a mortgagee bank and recommend the bank’s approval, or otherwise, of such shipowners’ insurance arrangements for financing purposes.
Also, if advised of the insurance covenants under the loan agreement, BankServe will recommend whether the insurances effected by a shipowner borrower meet the insurance covenants stipulated.