War Risks & Piracy Insurance
You're covered.
For damages and losses resulting from war-related events, piracy, and other similar threats.
War Risks & Piracy Insurance for superyachts is a specialised type of marine insurance that provides coverage for damages and losses resulting from war-related events, piracy, and other similar threats. This insurance is crucial for superyacht owners, especially when their vessels travel through or operate in regions known for political instability, armed conflicts, or high piracy activity.
War Risks & Piracy Insurance.
Key Features.
The following shows the standard key features for our War Risks & Piracy Insurance policies. Yet, at Superyacht Insurance Services, our products and service are anything but standard. We will work with you to design and build a bespoke policy that is uniquely tailored to you and your superyacht.
War Risk Coverage
Acts of War
Covers damages or losses caused by acts of war, including civil war, revolution, rebellion, and insurrection.
Terrorism
Provides coverage for damages resulting from terrorist acts.
Hostile Actions
Includes coverage for damages caused by hostile actions from foreign governments or entities.
Seizure and Confiscation
Covers losses from the seizure or confiscation of the vessel by a government or other authority during wartime.
Piracy Coverage
Piracy Attacks
Covers losses and damages resulting from piracy attacks, including hijacking and theft.
Ransom Costs
Provides coverage for ransom payments and related expenses if the vessel or crew is taken hostage.
Crew Kidnap and Ransom (K&R)
Covers the costs associated with the kidnapping of crew members, including ransom payments, negotiation expenses, and psychological support for the crew.
Additional Coverage Elements
Loss of Hire
If applicable, compensates the owner for loss of income if the yacht is unable to operate due to war or piracy-related damage.
Legal Liability
Covers legal liabilities arising from war or piracy incidents, including injury or death of crew members and third parties.
Wreck Removal
Includes costs for the removal of the vessel wreck if it becomes necessary following a war or piracy incident.
In conclusion.
Let's talk.
War Risk & Piracy Insurance is an essential aspect of a comprehensive insurance program for superyachts, providing crucial protection against the unique risks posed by political instability, armed conflicts, and piracy. By securing this type of insurance, superyacht owners can safeguard their vessels, crew, and operations from potentially devastating financial losses, ensuring peace of mind and the ability to navigate and operate safely in all regions of the world. If you’d like to arrange cover, please get in touch.
