Marine piracy

Beazley's piracy insurance protects ship owners from the illegal seizure of their vessels and the kidnapping of those onboard. We work closely with highly experienced negotiators and crisis management specialists to secure swift and safe outcomes for our clients.

Target
Owners and operators of ocean-going craft conducting transits of the high risk areas.

Scope of cover
Crisis management/response team
Support of a highly experienced response team to assist in the successful resolution of any incident.

Ransom
Surrendered by or on behalf of the assured to meet a kidnap or an illegal seizure demand.

Loss of ransom in transit
By actual damage, destruction, disappearance, confiscation, seizure, theft or wrongful abstraction.

Additional expenses
Comprehensive coverage of fees and expenses necessarily incurred for the duration of an insured event.

Legal liabilities
Settlements or awards, fees and judgments imposed upon and paid by the assured as a result of an action for damages brought by or on behalf of any insured person as a result of a hijacking.

Personal accident
Comprising loss of limb, loss of sight, loss of extremity, permanent total disablement or death of a covered person as the result of an actual or attempted insured event.

Optional coverage
Loss of hire
Loss of income the shipowner/charterer suffers in the event of a hijacking.

Limits available
Piracy: USD15,000,000
Higher limits may be available on request

Piracy loss of hire: USD15,000,000
Higher limits may be available on request

Combined war and piracy coverage
Beazley's piracy insurance is also available in conjunction with our war coverage as a fully combined policy with limits of up to $75m.

The combined policy is the first dedicated product of its kind in the Lloyd's market and is provided at a discount to the two covers purchased separately.