Our cover is designed to protect shipowners from acts of war, excluded under regular hull and machinery and P&I policies.
P&I war
Hull war
Detention and diversion expenses
Sue and labour
Discretionary insurance
Optional additional insurance such as loss of hire
All cover is underwritten on a mutual basis with the SWRM insuring 100% of the risk, unlike many commercial underwriters who provide cover on a subscription basis.
As a national war pool, we have defined eligibility requirements:
We provide war risks insurance to the following shipowners:
Ship or fleet connected to Singapore* and – in a suitable situation– another ASEAN country as defined below.
Or
Users of the Malacca Straits if passage through Malacca Straits or Singapore territorial waters is declared an excluded area for war risks.
*A ship or fleet connected to Singapore is defined as:
A ship operated by an SSA member or company registered in Singapore, or the affiliated company of either – irrespective of flag.
Fleets where one or more ships is operated by an SSA member or a company registered in Singapore, or the affiliated company of either – irrespective of flag.
Fleets where one or more of the ships is managed (commercial, technical or crew) from Singapore – irrespective of flag.
In a suitable situation, we may apply the above criteria to an ASEAN country other than Singapore.
Our expert team is based in the same time zone as Asian shipowners for fast, first-class service.
Our war cover protects shipowners connected with Singapore against the threats they face while trading globally.
Our direction is driven by a committee of shipowners and industry representatives to ensure our goals align with insured owners.
Our expert underwriters can provide a tailored, competitive quote on a wide range of war risk conditions.
To find out more about SWRM and how we can help protect shipowners and operators against war risks, contact us
