There are no separate Rules or terms & conditions for charterers and traders but instead, cover invokes the P&I rules for ships. Like Owners' mutual P&I, Comprehensive Charterers' Liability cover is based on named risks. The cover is added for some risks that are excluded by the P&I rules for Owners, such as the charterer's liability for damage to the hull and the charterer's contribution to General Average. The cover includes removal and replacement costs of off-specification bunkers that may damage the ship.

The combination of high limits, flexible terms and a worldwide service network has attracted many major charterers, particularly operators of oil, gas and chemical carriers, oil companies and commodities traders but also large dry bulk and container operators. Through continuous adaptation and enhancement, today’s cover offers a comprehensive and cost effective insurance arrangement for charterers of ships in trades where there is a need for catastrophe protection and high limits of cover.