Gard has agreed to partner with the Norwegian Shipowners’ Mutual War Risks Insurance Association (DNK) on war risk cover.
Under the collaboration, Gard’s war risk clients will have access to DNK’s intelligence services, including tailor-made reports and support in crisis situations.
Oslo-based DNK will also monitor vessels that have Gard’s war risk cover for security threats.
Gard said the move is in response to rising geopolitical tensions.
It comes as the war in Ukraine, and more recently Israel’s conflict with Hamas, has raised the importance of war risk cover for many owners.
“We live in uncertain times, and our clients rely on good intelligence and unfiltered threat assessments to make the very best decisions they can,” said Gard’s chief underwriting officer Bjornar Andresen.
“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,” he said.
Gard recently launched a war risk portal, a digital underwriting tool providing automated breach detections and additional premium calculations to Gard’s lead clients.
Freddy Furulund, DNK’s director of security and contingency, said: “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.”
