Gard launches war risk service “with a mutual spirit”

Norway-based marine insurer Gard has announced a new war risk service, which it said was In response to rising geopolitical tensions, and would make it “easier for clients to mitigate risks in a fast-changing environment”.

The insurer and Group Club said that it was offering the new service “with a mutual spirit” through an agreement with the Norwegian Shipowners’ Mutual War Risks Insurance Association (DNK).

Gard CUO Bjørnar Andresen said that “we live in uncertain times, and our clients rely on good intelligence and unfiltered threat assessments to make the very best decisions they can. 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.”

Andresen said that from November 1st the insurer’s lead clients on War would “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 is a specialized war risk insurer for Norwegian shipowners. It also has substantial capabilities in intelligence, loss prevention services and war-related incidents.