MLchartDataset catalogue

Lay-up

Term · Insurance and risk management · MLC-T-INS-001971

The temporary withdrawal of a vessel from active service, during which it is moored or stored in a safe location and not engaged in navigation or cargo operations. This status reduces the risk of loss or damage, leading to a corresponding reduction in marine insurance premiums. Insurers often require specific conditions for lay-up, such as deactivation of machinery and reduced crew.

Table 1. Record
IdentifierMLC-T-INS-001971
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001971",
  "term": "Lay-up",
  "field": "Insurance and risk management",
  "definition": "The temporary withdrawal of a vessel from active service, during which it is moored or stored in a safe location and not engaged in navigation or cargo operations. This status reduces the risk of loss or damage, leading to a corresponding reduction in marine insurance premiums. Insurers often require specific conditions for lay-up, such as deactivation of machinery and reduced crew.",
  "url": "https://mlchart.com/terminology/insurance/lay-up/"
}

Record 1,881 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.