October 7, 2008
New Lloyd's war risk policy includes security team protection
If shipowners want to take the advice of Vice Adm. Bill Gortney, Commander, Combined Maritime Forces, and consider hiring security teams to protect their vessels against Somali pirates, Hart Security and London market insurance broker Swinglehurst Limited may have the answer.
They are cooperating in a solution that, they say, combines the benefits of security and insurance combined to offer the best all round protection on voyages in the Gulf of Aden.
Swinglehurst is offering shipowners war risk cover including the risks of piracy, for voyages within the Gulf of Aden where vessels are protected by Hart personnel. It says that "the comfort afforded by the involvement of Hart will enable extremely attractive insurance rates to be offered."
Key elements of the product, which is offered either direct to shipowners or via their brokers, are:
Cover placed 100% at Lloyd's
Vessels protected by Hart security team during voyages
Piracy included within war coverage
Attractive insurance terms aligned with preferential market rates from Hart
Hull values up to $75,000,000
War P & I up to $75,000,000
Detention cover to protect loss of earnings, if required
No deductible for physical damage cover
Notice of voyages should be given 14 days in advance so that arrangements for protection can be made.
Hart, founded by Lord Richard Westbury in 1999, is a recognized market leader in the provision of maritime security solutions to the transportation and energy sectors. Working closely with governments, regulatory bodies and industry, Hart is able to provide practical security solutions to meet clients' requirements.
Hart's Maritime Department has extensive experience from both the military and commercial sectors in providing waterborne security. The company provides consultancy services, personnel and vessels for anchorage and oilfield waterborne security support, Exclusion Zone enforcement, sub-surface detection/deterrence and anti-piracy support services for Governments and industry.
Hart's experience includes anti-piracy services in the Gulf of Aden and Malacca Straits, EEZ fisheries protection operations along the coast of East Africa and Exclusion Zone enforcement and maritime counter terrorism training courses for the Yemen Ministry of Defenfe.
The Swinglehurst Group is a leading independent insurance broker in the London market based in the City of London.