Products:
War & Strikes Risks
War & Strikes risks insurance in basis covers physical damage and/or destruction of a vessel caused by or as a result of War-like acts such as but not limited to war, civil war, revolution, rebellion, capture, seizure, riots, civil commotions, confiscation, piracy, mines, torpedoes or other derelict weapons of war etc. War & Strikes risks clauses, however, exclude Kidnap & Ransom, which can be covered under a K & R policy.
War & Strikes risks insurance is a separate policy and finds its origin in the F.C. & S. (Free from capture and Seizure) and War & Strikes related exclusion stipulation on the Hull & Machinery policies
Nowadays, piracy is one of the first perils which comes up when talking about War and Strikes risks cover. This as, although piracy is in fact still mentioned as a named peril on the various Hull & machinery policies, in practice piracy risks have now globally been excluded from the Hull & Machinery policies and transferred to the War & Strikes risks insurance policy.
It should further be noted that cover can be extended to include P & I (including Crew) and War Loss of Hire. The P & I aspect and especially the crew extension is of importance. This as the vast majority of P & I Clubs/Underwriters provide War P & I coverage in excess of the Hull & Machinery value as deemed to be insured under the War & Strikes risks insurance. Not effecting a P & I war extension can as such have severe financial consequences.
There are trading area restrictions by means of the Navigation Limitations - Hull War, Strikes, Terrorism and Related Perils Endorsement (JW2005/001A) dated 20th June 2005 in conjunction with the current List of Areas of Perceived Enhanced Risk (Listed areas) as may be published from time to time in London by the Joint War Committee. Effectively this excludes cover for vessels trading to area's for which separate cover on special terms and conditions is to be arranged.
We can assist in setting up War & Strikes risks insurance arrangements and all relevant extensions where required.
