Extended Loss of Charter Hire is structured in the same manner as Loss of Charter Hire.
Whereas a standard Loss of Charter Hire insurance covers marine perils and loss due to physical damage to the Yacht, the extended Loss of Charter Hire policy will extend to many other external sources of interruption which are outside the control of the Yacht owner or manager.
It indemnifies the Assured for an agreed number of Chartering weeks and is a natural extension where we already insure Loss of Charter Hire, but can also be written on a stand-alone basis.
Whereas a standard Loss of Charter Hire insurance covers marine perils and loss due to physical damage to the Yacht, the extended Loss of Charter Hire policy will extend to many other external sources of interruption which are outside the control of the Yacht owner or manager.
These will include:
- Extreme weather
- Life-saving or refugee rescuing
- Illness, death or injury to persons on board the insured Yacht(s)
- Natural disaster
Norwegian Hull Club is willing and has the expertise to tailor-make your Loss of Charter Hire coverage.
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.