Published 13 February 2024
Gard P. & I. (Bermuda) Ltd., Assuranceforeningen Gard - gjensidig -, Gard Marine & Energy Limited, and Gard Marine & Energy Insurance (Europe) AS (together referred to as the “Insurers") have received Notice of Cancellation from their reinsurers in respect of war risks. As a result, it is necessary for the Insurers to issue Notice of Cancellation in respect of the affected insurance covers.
You are hereby notified that the cover against war risks as defined and as afforded under the following insurance cover(s):
Charterers Liability Cover
Extended Liability for Charterers
Charterers Bunkers Insurance
Comprehensive Carriers' Liability Cover
P&I Insurance for MOUs
Comprehensive General Liability for MOUs
Crew Cover for Ships
Crew Cover for MOUs
Extended Crew Cover
Tour Operator Passenger Liability Cover
Deviation Liability Cover
Divers Cover
Comprehensive General Liability for Ships
Charterers Loss of Profit
Charterers Extra Costs
Charterers Interest Insurance
Charterers Freight at Risk Insurance
Charterer's (Anticipated) Freight at Risk Insurance
Purchasers Interest Insurance
with inception in the policy year 2023 and/or 2024 will be cancelled in accordance with the Notice of Cancellation and Automatic Termination Clause (JL2022-020) paragraph 1, incorporated into the insurance cover(s) listed above, pursuant to which minimum 72 hours’ notice is required. Cancellation is notified by this Notice of Cancellation (the “Notice”) dated 14 February 2024 and will become effective from noon GMT on 20 February 2024.
This Notice shall apply to all persons and/or companies named as Assureds and/or Co-assureds in Certificates of Entry and/or Insurance Policies, as applicable, evidencing the insurance cover(s) listed above. Where the insurance cover listed above is a reinsurance cover, any reference in this Notice to “Assured” or “insurance” shall be understood to mean “Reassured” and “reinsurance” respectively.
This Notice supersedes any other terms with respect to war risks which may be agreed in the individual Certificates of Entry and/or Insurance Policies, as applicable, evidencing the insurance cover(s) listed above.
This Notice applies only to the war risk cover under the above-listed insurance covers, all other terms of the relevant insurance cover remain unchanged.
At the same time as cancellation becomes effective on noon GMT on 20 February 2024, the war risk cover will be automatically reinstated with the clause set out below deemed to be endorsed upon all Certificates of Entry and/or Insurance Policies, as applicable, evidencing the above-listed insurance cover(s) and form part of same insurance covers:
This insurance excludes liabilities, losses, costs and expenses caused by or arising out of or in any way connected to War risks occurring or arising in the waters specifically mentioned below:
Indian Ocean, Gulf of Aden and Southern Red Sea
The waters enclosed by the following boundaries:
a) on the northwest, by the Red Sea, south of Latitude 18°N
b) on the northeast, from the Yemen border at 16°38.5’N, 53°6.5’E to high seas point 14°55’N, 53°50’E
c) on the east, by a line from high seas point 14°55’N, 53°50’E to high seas point 10°48’N, 60°15’E, thence to high seas point 6°45’S, 48°45’E
d) and on the southwest, by the Somalia border at 1°40’S, 41°34’E, to high seas point 6°45’S, 48°45’E
excepting coastal waters of adjoining territories up to 12 nautical miles offshore unless otherwise provided.
This Notice shall apply equally to any insurance offers from the Insurers not yet accepted and for which Certificates of Entry and/or Insurance Policies, as applicable, have not been issued. These insurance offers are amended to incorporate the clause set out directly above, all other terms of the offer remaining the same.
The Insurers are currently investigating options for a buyback of the cancelled cover. Please contact the Underwriting Department for details.
If you have any questions about this Notice please contact Audun Pettersen, Chief Underwriting Officer, Arendal.
Yours faithfully, GARD AS
Rolf Thore Roppestad Chief Executive Officer
Gard is a member of
