Seacurus and Cooper Gay have announced the launch of Crewseacure, a new marine kidnap for ransom insurance policy.
Crewseacure has been developed in response to the escalating number of armed attacks against vessels resulting in the taking of crews and passengers as hostages and extorting ransoms for their release.
The insurance policy provides shipowners with the immediate support of specialists in kidnap for ransom negotiation and maritime risk management.
In addition, all prospective assureds will receive access to expert advice, before and after inception of the policy, on counter-piracy measures and contingency planning arrangements to reduce their potential exposure to piratical attacks.
Capt. Thomas Brown, managing director of Seacurus, said: “Arguments over the pros and cons of the availability of this type of insurance coverage are well known. However, shipowners have the right to protect themselves and their crews against the devastating effects of such attacks.
