Delay Insurance Cover is a loss of earnings product triggered by onshore or ship related perils, taking into consideration the payment of freight contractual base (for example Time Charter, Voyage Charter etc.) on which vessels are operated. Insurance remuneration is calculated by considering ship’s total days out of commercial use and ship’s daily hire, whilst underwriters liability is limited to a pre agreed number of days net of applicable deductible(s). The above may sound similar to Loss of Hire (LoH) products but in fact Delay Insurance products offer wider coverage. More specifically and contrary to LoH products, this evolved product does not only provide indemnity against perils outlined in H&M and War policies. Examples of onshore perils include strikes, boycotts, port closures, fire, explosion, border closures, earthquakes and extreme weather conditions such as storm, flood or ice. Ship related perils include illness of crew, war, collision, stranding, grounding to fixed and floating objects, actual or alleged pollution or presence of drugs on board, quarantine, stowaways and fire or breakdown of machinery.