Skuld's new Kidnap & Ransom Insurance

SKULD, one of the world’s leading P&I Clubs, now has the ability to offer its members and clients Kidnap & Ransom cover for world-wide trade together with Griffin Underwriting.

SKULD is a P&I club with a long tradition of providing P&I insurance for shipowners and charterers. With continuing focus on providing first class service, it was natural for SKULD to provide Hull War Risk cover almost a decade ago. The current extension into K&R fulfils shipowners and charterers’ current risk exposure. The increase in piracy attacks has created a situation where owners and charterers face uncertainty in their daily operations. The risk of being attacked and illegally seized, causing disruption in trade, stress and exposure for crew and staff as well as financial insecurity, can be protected with a K&R insurance package.

Piracy attacks are continuing and vessels are seized. The insurance covers provided are uncertain for this risk and owners are left in the grey zone. To get the best protection, owners should have P&I, Hull War Risks and K&R. This package provides a certainty. SKULD can now provide all these covers: P&I, Hull War Risks including Piracy, K&R including Loss of Hire extension. This provides a comprehensive insurance package for owners and includes Skuld’s valued service in any casualty situation.

For charterers, SKULD’s Comprehensive Charterers’ Cover with K&R Loss of Hire extension, will provide the extra security for uncertain exposures in risk areas. If the charterer is liable for hire during a pirate seizure, he is covered for such a loss.

SKULD has elected to use Griffin Underwriting, a well known and experienced K&R provider, to ensure the best cover and service for members and clients. SKULD and GRIFFIN will work together to ensure close hands-on excellent service and assistance should the vessel be seized.