If you operate in waters where pirates operate and have the potential to disrupt the vessel or crew then Piracy Insurance cover can help.
Low cost insurance for Charterers.
The LoH insurance responds to a charterer’s legal obligation to pay hire (or demurrage) to the shipowner in circumstances where the charterer is deprived of the use of the chartered vessel due to an act of piracy. The cover operates worldwide but it is specifically targeted at vessels transiting the Gulf of Aden or Indian Ocean. We can provide cover (depending on Daily Amount insured) for a limit of 90, 180 or 270 days at the Assured’s option.