Marine War – Kidnap and Ransom
The maritime industry is the backbone of the world economy, with over 90% of goods moved by sea. A sector of such importance cannot remain immune to various dangers; the most significant ones are related to geopolitical conflicts, piracy, and political unrest. Shipping companies must sail through these challenges and in today’s uncertain world, a comprehensive war risk policy is vital. It provides comprehensive coverage against war-related risks, ensuring financial protection and operational continuity for maritime companies.
At blueaigaion, as specialists in this field, we operate our exclusive war facility for Marine War Risks, backed by international insurers. The facility has been tried and tested, having paid out on at least 2 CTLs.
Marine War Insurance
Marine War Insurance is essential for protecting against war-related risks. Here’s what it offers:
- War Risks and Additional Capacity for War P&I: Coverage up to hull values.
- War Loss of Hire: Coverage for loss of hire due to war-related incidents.
- Bespoke Wording: Customized policy wording, or standard ITC, Nordic, and American wordings.
- Annual Worldwide Policies: Long-term coverage that meets global operational needs.
- Single Transit Breach Covers: Flexible options for specific transits.
Kidnap and Ransom Coverage
Kidnap and ransom situations are a serious threat in the maritime industry. At blueAigaion, we offer access to comprehensive Kidnap and Ransom coverage with limits of USD 5m or 10m. This coverage includes:
- Ransom Payments: Coverage for the cost of ransom payments.
- Loss in Transit: Protection against losses occurring during ransom transit.
- Additional Expenses: Coverage for associated expenses such as crisis management.
- Legal Liability: Protection against legal liabilities arising from kidnap and ransom incidents.
- Personal Accident: Coverage for personal accidents occurring during such events.
- Loss of Hire Option: Additional coverage for loss of hire due to kidnap and ransom situations.
We believe in shielding your maritime operations against the unforeseeable risks of the global environment. For further information or simply to request a quote, please do not hesitate to contact us.
