War Risk and Kidnap & Ransom
The Club can now offer its Members cover for Hull War and P&I War risks, including cover for piracy, and Kidnap & Ransom (K&R). These covers are offered to complement Members’ mutual P&I entries and provide streamlined service in the event of a piracy, seizure or war event.
Cover Highlights
Hull War and underlying P&I War:
- On market equivalent terms and rates
- Including loss of hire
- Including increased value
- Cover in breach areas at market comparable prices.
K&R:
- Up to US$10 million per insured event
- Loss of ransom in transit - up to US$10 million per insured event
- Fees and expenses of consultants - unlimited per insured event
Additional expenses, including but not limited to:
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Fees and expenses of independent negotiator
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Fees and expenses of independent public relations consultant and/or interpreter
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Travel costs
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Crew wages
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Interest on loans raised to pay ransom
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Fees and expenses of security guards to protect crew after an insured event
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Cost of getting the ransom to the kidnappers
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Cyber Extortion extension cover ransom, expert fees and the costs of restoring data arising from a ransomware attack.
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Limits up to US$1 million available.
Supporting documents
For details, view our War Risk and K & R Covers brochure, access the application form and download our Rules in the list below.
Resources
Underwriting Key Contacts
Gary Field
Head of Underwriting & Head of Americas Syndicate
Rupert Harris
Chief Executive SSM Europe & Head of Reinsurance