War Risk insurance provides financial protection against losses sustained from acts of war, including invasion, insurrection and rebellion; it covers loss or damage to the hull and may also cover the risks associated with kidnap and ransom.
Increasingly War Risk underwriters are less keen to assume the risk of paying ransoms and will offer significant discounts on the additional breach premium if marine kidnap and ransom insurance is in place. These discounts can be in the region of 60% or more.
Seacurus has established a War Risks lineslip in the London market with pre-agreed discounts when breach declarations are made in conjunction with the purchase of Marine Kidnap and Ransom insurance.
Experience to date has shown that the additional premium rates we can offer are extremely competitive when compared to the rates offered by an Owner’s existing War Risks underwriter.