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International

Hong Kong insurer launches war risk syndicate to protect Asian ships

November 21, 2017 Reprints

Hong Kong-based Asia Insurance Co. Ltd. has launched a new marine insurance facility, Hong Kong China War Risk Syndicate, to protect Chinese and Asian ship owners from the risks of war and piracy, The Maritime Executive reported. The insurance covers marine hulls for acts of war and piracy with a maximum limit per hull of $100 million. The insurance also covers rebellion, insurrection, derelict mines and torpedo strikes, civil commotion, confiscation, restraint and detainment by a ruling power.

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Hong Kong insurer launches war risk syndicate to protect Asian ships

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