Marine insurance refers to insurance coverage for both marine and war risk. Although the two types of risks are often grouped together, it is common to differentiate between them when discussing the available coverage.

Under the standard Hull and Machinery conditions, war risks are typically excluded. Therefore, it is necessary for the insured party to purchase separate coverage against war risks.

Good intelligence and unfiltered threat assessments helps making the very best decisions. With Gard's war risk service, we offers our clients with war risk led by Gard, something that can make a huge difference in helping to prevent losses and improve operational safety.

The Nordic Marine Insurance Plan distinguishes between two types of areas - "excluded areas" and "conditional areas".

In an excluded area, the ship will not be covered by insurance, although it might be possible to negotiate coverage with the underwriter based on mutually agreed upon terms and conditions. In a conditional area, the ship will only be covered if an additional premium is paid and subject to other conditions that may be stipulated.

The war risk cover has a unique provision that allows the insurer to suspend the cover in certain critical scenarios. For instance, if two major global powers go to war, the insurance may be cancelled entirely.

The policy specifies the trading limits at any given time.