The Club's Kidnap & Ransom (K&R) insurance offers worldwide, professional security and crisis management for offshore and onshore employees, as well as compensating for financial loss.
It not only covers shipping company employees but their relatives, partners, children, guests, visitors and domestic servants as well; also any other individuals for whom coverage is agreed, such as riding gangs, repair gangs, supercargoes and supernumeraries.
It is delivered in co-operation with leading global crisis and marine consultants. Written in conjunction with War.
Safety and Crisis Management
Our crisis managers – available 24/7 - and staff work closely with the Assured's crisis team to generate tailored strategies to negotiate with kidnappers, deliver the ransom and provide humanitarian emergency aid.
Cost Coverage for Crisis Prevention and Crisis Management
Norwegian Hull Club’s K&R insurance is written in co-operation with Hansekuranz Kontor, a specialist underwriting agent. It provides peace of mind and covers the cost of crisis management, both preventive and in the event of an incident.
A kidnapping or extortion – whether sea or land based – imposes a significant financial burden on a company, with the ransom frequently representing only a small fraction of the total costs.
K&R insurance covers the entirety of costs associated with such a crisis, such as: reimbursement of ransom; charges and expenses for negotiators; fees for interpreters and PR consultants; travel expenses; cost of medical and psychological treatment; continued pay for the victim; financial payments for the consequences resulting from an accident or in the event of death; bunker costs; port dues; cost of technical equipment; salaries for replacement crew; evacuation costs; and loss of hire
It's our Service Concept that sets us apart
When placing insurance with Norwegian Hull Club as Leader, an Assured has access to claims handling experience, service levels and competence of the highest quality. We handle claims and critical situations in the most professional way. We prioritise and make claims settlements much quicker than the industry average, through practical, solution-driven claims handling and involvement from notification to final payment. Norwegian Hull Club encourages teamwork together with the Assured and the broker.
Our world-leading contingency support and operational intelligence services are developed from handling some 2,500 claims every year. We organise a wide variety of loss prevention activities for both ship and shore-based staff, sharing experience from actual incidents, aimed at improving industry best practice.