War Insurance

Marine War

ANNUAL POLICIES

Azure Risk Limited (Azure) can provide annual marine war cover, giving the shipowner the freedom to trade globally subject to the latest Joint War Listed Areas.

SINGLE BREACH

Annual war covers written in China very rarely cover breach voyages, so single voyages policies addressing that need are commonplace in the Asian market.
Azure will lead risk for single voyages.
Azure will use a rating schedule for all breach voyages as per the last Joint War Listed Areas.

APPETITE

Target all types of tonnage and globally trading vessels.
Insured domiciled worldwide, but subject to sanctions check and sanction clause.
However, predominantly the focus will be on Asia tonnage.
Territorial limits: Worldwide, subject to Navigation Limitations for Hull War, Strikes, Terrorism and Related Perils Endorsement (JW2005/001A) and JWC Hull War, Strikes, Terrorism and Related Perils – Listed Areas as per the current circular notified.

BUSINESS NOT TO BE WRITTEN

Azure will not write nationalisation, expropriation and confiscation.

SANCTIONS

Azure will sanction check all parties involved in risk against UK, EU, US and UN sanctions lists. Sanction checking will be done before binding and will be constantly monitored in case of new sanctions.

POLICY PERIODS

Maximum period of insurance bound will be no greater than 18 months.

APPENDIX OF COVER

Marine War Hull Risks on: Hull, Materials, Machinery, Outfit and everything connected therewith, nothing excluded. Disbursements and/or Increased Value of Hull and Machinery including Excess Liability.
Protection and Indemnity War Risks, War loss of hire: Coverage for the loss of income as a result of physical damage to the vessel that is recoverable under the War Risk Hull insurance.
Marine Cargo War: Including both Direct and Reinsurance business

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War Risks

THE FOLLOWING WORDING IS AUTHORISED FOR USE

Institute War and Strikes Clauses – Hulls – Time 1/10/83 (cl 281)
Chapter 15 of the Norwegian Plan
PICC Hull War and Strikes Clauses (2010)
CSC Hull War and Strikes Clauses
American Institute Hull War Risks and Strikes Clauses (Including Automatic Termination and Cancellation Provisions) For Attachment to American Institute Hull Clauses (December 1, 1977)
Protection and Indemnity War Risk Clauses (1/1/2002) including crew cover limited to a combined single limit of hull value and IV amounts
Institute War Clauses (Cargo)
Institute Strike Clauses (Cargo)
Innocent Owners Interest Clauses
Mortgagees Interest – Hulls
Loss of Charter Hire Insurance Including War (ABS 1/10/83 Wording) LPO 454
Hull War, Strikes, Terrorism and Related Perils Notice of Cancellation Administration Clause (JW2005/001B)
London Blocking and Trapping Endorsement LPO 444 amended to 6 months
Navigation Limitations for Hull War, Strikes, Terrorism and Related Perils Endorsement (JW2005/001A)
Violent Theft, Piracy and Barratry Extension JW2005/002 Institute Notice of Cancellation, Automatic Termination of Cover and War Nuclear Exclusion Clause – Hull etc. 1/1/95 (Cl 359)
Institute Radioactive Contamination, Chemical, Biological, Biochemical and Electromagnetic Weapons Exclusion Clause 10/11/03 (Cl 370)