A type of marine insurance designed to provide coverage for the liabilities
including those of care, custody, and control (CCC) assumed by a party
chartering a vessel when the vessel's operation remains in the control of
the vessel's owner. Under a charter agreement also known as a charter
party, the chartering party may occasionally agree to be responsible for some
of the liabilities associated with the voyage like damage that the ship might
incur while loading and unloading the charterer's cargo or the loss of the
use of the vessel when it is involved in a collision. The insurance normally
covers damage to the vessel and may also provide coverage for other types of
damage or injury for which the charterer becomes legally liable.