Asian marine syndicate
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New marine insurance syndicate launches to protect Asian shipowners from war
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Description:The venture will offer hull war-risks cover to Hong Kong and Chinese shipowners, as well as other Asian flag, owned, managed or chartered ships. So a vast swathe of tonnage — from Istanbul to the Pacific — will meet the underwriting criteria. Cover will be based on the London market war-risk clauses of This includes loss or damage to a vessel arising from wars, civil war, terrorism, piracy or other hostile acts, seizure, confiscation or expropriation of a vessel, damage caused by mines or other derelict weapons, violent theft by parties outside the vessel, or barratry by the master, officers or crew.
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