The vessel may be delayed and lost as a result of insolvency (e.g. arrest and subsequent forced sale of the vessel). Such delay and loss is not insurable regardless of whether it is the owner, the assured (if different from the owner) or a third party who faced financial difficulties resulting in damage or loss to the assured. A shipyard in financial difficulties is a third party that may cause the assured damage or loss by delayed or ineffective repairs etc. due to financial strain on the yard.