Beazley, a leading insurer of marine war risks, offers for vessels passing through troubled waters war risks and piracy cover under one policy.
This product, which is the first of its kind within the Lloyd’s market, is available from Beazley syndicates 623 and 2623 with limits of up to $75m. Apart from the cover for normal war and piracy perils, shipowners as well as charteners have access to experienced negotiators in case the vessel captured and its crew or passengers are kidnapped.
According to Beazley’s underwriter Michael Sharp marine war risks usually coexist in the same waters with piracy risks and therefore the offer of war risks and piracy cover under one policy is convenient.
For more information please refer to Beazley’s website.