Loss of Charter Hire insurance covers loss of income following a physical damage to the Yacht, recoverable from the underlying hull & machinery cover.
This enables Yacht owners to protect their income and cash flow in the event of a casualty. The conditions are on the basis that the Charter agreement being on the MYBA or similar and the coverage is adapted to reflect the underlying Yacht Charter market rather than the conventional marine market.
Norwegian Hull Club – the Preferred Leader
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.