Marine, energy, protection and indemnity insurance products provider Gard has launched a war risk service in response to increasing global geopolitical tensions.
This service has been introduced by Gard through an agreement with mutual insurance company Norwegian Shipowners Mutual War Risks Insurance Association (DNK).
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DNK specialises in providing intelligence, active loss prevention services and war risk cover. It assists its customers in navigating high-risk areas by offering live monitoring services combined with expertise and a global network.
Gard said that the new war risk service is expected to help clients minimise the risk in a fast-changing environment.
It comes as a supplementary offering to Gard’s recently launched war risk portal, a digital underwriting tool that can be used by the company’s lead clients for obtaining automated breach detections, as well as additional premium calculations.
“With this improved war risk service, we are taking a big step forward, offering our clients with war risk led by Gard something that can make a huge difference in helping to prevent losses and improve operational safety,” said Gard chief underwriting officer Bjørnar Andresen.
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By GlobalData“From 1 November, our lead clients on War will be able to benefit from a wide range of intelligence products delivered by DNK.
“They can also get tailored and exclusive intelligence reports upon request, as well as additional expertise and support in cases of crisis and war risk incidents. All vessels with Gard war lead will be monitored by DNK`s Intelligence & Operations Centre and receive warnings when a vessel may be affected by an imminent security threat.”
DNK Security and Contingency director Freddy Furulund said: “We are happy to have entered into this agreement with Gard and look forward to continuing what is already a very constructive collaboration.
“Our mission is to increase resilience, safety and stability for the maritime industry, and with geopolitical tensions running high, this is perhaps more important than ever.”
