Maritime Piracy Insurance
For charterers and owners of vessels passing through high-risk transit areas, the threat of armed boarding by pirates remains a severe operational hazard. Standard Hull and Machinery or P&I club coverage often falls short during a prolonged hostage situation. Our standalone maritime piracy insurance provides the specific financial and advisory support required to resolve a hijacking.
Navigating a Fluid Security Environment
The current piracy situation is highly fluid, with threat vectors shifting across global shipping lanes. Standard marine policies can be rigid, leaving operators exposed. We provide flexible, standalone marine insurance, including dedicated marine cargo and marine freight insurance, to ensure complete peace of mind across your entire maritime operation.
Comprehensive Piracy Coverage
Our piracy insurance policies provide essential financial cover for the immediate and prolonged costs associated with a hijacking. This includes ransom reimbursement, the cost of replacing seized cargo, and the extensive legal and operational liabilities that follow a vessel seizure.
Access to World-Leading Advisors
A maritime hijacking is a highly complex negotiation. In the event of vessel detention, crew hijack, or on-land kidnapping, our policies grant you immediate access to world-leading piracy advisors. These specialists guide ship owners and charterers through the negotiation process, prioritising the safe return of the crew and the rapid release of the vessel.
Secure Your Fleet and Crew
Do not leave your maritime operations vulnerable to the financial and human cost of piracy. Secure specialist coverage that understands the realities of high-risk transits. Protect your vessels and crew with Blackthorn Risk’s specialist maritime piracy insurance.
FAQS
Will the policy compensate us for 'Loss of Hire' if our vessel is detained by pirates for several months?
Yes, comprehensive standalone piracy policies can be structured to include Loss of Hire. A hijacking often results in a vessel being anchored and detained for prolonged negotiation periods. This extension protects your revenue stream, compensating you for the charter fees lost while the vessel is out of operation.
Does deploying armed security guards on our vessels affect our piracy coverage or premiums?
No, it does not void your coverage. In fact, declaring the use of accredited Private Maritime Security Companies (PMSCs) is often a requirement for vessels transiting a High Risk Area (HRA). Provided the security firm meets recognised industry standards (such as ISO 28007), their presence can favourably impact your risk profile.
Are policies adaptable to the differing operational risks between the Gulf of Guinea and the Red Sea?
Absolutely. The modus operandi of threat actors varies significantly by region. For example, kidnapping for ransom in the Gulf of Guinea versus geopolitical targeting in the Red Sea. We structure policies that reflect the specific regional threat vectors your vessels will face during their transits.
