Marine War Insurance

At Canopius, we provide a wide range of Marine War Risks cover. This includes Marine hull and machinery, primary war Protection & Indemnity (P&I), increased value/disbursements, war loss of hire/freight, breach of warranty voyages, specialist marine operations and projects, shipbuilding, and reinsurance to primary war providers.

We’re focused on internationally trading merchant marine ships and other commercial shipping, such as offshore support, survey, dredging, and engineering craft.

When it comes to coverage limits, we’re able to offer lines of up to 25% or a $100m (USD) limit, whichever is the lesser. This ensures that we can provide substantial support to our clients, covering a range of potential risks and scenarios.

Yes, there are a few geographical restrictions. Currently, we at Canopius accept risks from all international locations except for Iran, North Korea, and Cuba. Apart from these, we’re open to covering risks in various global locations and understanding the diverse needs of international maritime operations.

Our Marine War insurance covers a variety of risks, including:

• Liability coverage: protection against third-party claims arising from war-related damages or accidents.
• Loss of hire: compensation for lost earnings due to war-related disruptions preventing a vessel from operating.
• Physical damage to vessels: damage resulting from war-related incidents such as missile strikes, bombings, or sabotage.
• Rerouting costs: additional expenses incurred when a vessel is forced to take a longer route due to war or piracy threats.
• Salvage & recovery costs: coverage for expenses related to rescuing a ship from a war or piracy situation.

Marine War insurance from Canopius covers vessels against operational risks arising from war, piracy, terrorism, and acts of war. It protects ship owners from physical damage due to hostile acts, ensuring their assets are safeguarded during high-risk operations. This insurance mitigates operational risks by covering costs associated with repairs and potential losses, offering comprehensive protection for maritime ventures. With Canopius’ expertise, ship owners can navigate challenging environments with confidence, knowing they are protected against both operational risks and physical loss.