Hellenic War Risks comprehensive cover
War risks cover is all about protecting your vessel for the risk that your standard hull insurance and P&I insurance exclude. This is far more than the high profile piracy or acts of terrorism that feature in the news.
Hellenic War Risks offers one of the most comprehensive policies available, protecting your fleet from malicious damage or loss from third parties, virtually everywhere.
Our Rules booklet provides the full detail, but here is an overview of the areas of protection offered:
Cover against hull or freight damage
This includes loss of or damage to the hull and/or freight caused by:
- war, civil war, revolution, rebellion, insurrection or civil strife arising therefrom, any hostile act by or against a belligerent power
- capture, seizure, arrest, restraint or detainment
- mines, torpedoes, bombs or any other weapons of war
- strikers or others taking part in labour disturbances, riots or civil commotion, terrorists or any person acting maliciously or from a political motive
- piracy or violent theft
- confiscation or expropriation.
Cover for detention or diversions
In addition, your Hellenic War Risks cover insures you against the risk of various losses and expenses due to detention or diversion, which is caused by:
- warlike operations, civil war, revolution
- any hostile act by or against a belligerent power
- compliance with any order, prohibition or direction made or imposed by the Directors to avoid any insured loss to the hull or freight
- compliance with any order, prohibition or direction made by any government with the right to give such orders, or made by any other government or military authority for the purpose of furthering its political aims.
Cover for P&I claims related to war risks
The club also offers Members cover for P&I claims arising out of or in consequence of a war risk that will be excluded in mainstream P&I cover. This includes:
- loss of life
- personal injury
- illness, expenses in respect of captured or detained crew
- collision, damage to fixed and floating objects
- wreck removal and cargo claims.
Loss of Hire cover
Members have the option to take additional cover against loss of hire, should a vessel be detained or be damaged and put out of action. This is an added extra that can be added to each ship’s policy.
Contraband / Drugseize cover
The Association will also offers insurance which covers hire lost when a ship is detained or seized when drugs, or other contraband, are discovered on board. This is an optional additional insurance, offered under Rule 2F. Members who are interested in purchasing this cover should contact the Managers’ Agents for further details. The cover is available on a stand-alone basis and Members do not have to purchase war loss of hire cover to purchase this additional cover.
Our Hellenic War Risks cover is subject to general exclusions including:
- losses covered by hull policies (ITC-Hulls)
- losses due to war between any of the following: The United Kingdom, The United States of America, France, The Russian Federation, The People’s Republic of China (“The Five Powers”)
- losses due to chemical, biological, bio-chemical and electromagnetic weapons or computer viruses
Cover is also subject to seven days’ notice of cancellation, with reinstatement after expiry on new rates, terms or conditions. This provision is used to allow the addition of new Additional Premium (“AP”) areas.
Our cover is subject to separate limits of:
- the ship's value for hull and machinery up to US$400 million
- for war risks P&I liabilities including crew, US$400 million
Hellenic War Risks, on your side
Should the worst happen, you have an experienced team overseen by your shipping community, there to help.