Delay insurance still available for Hormuz area

Jul 05 2019


The Strike Club has said that it will continue to provide marine delay insurance to its members operating in the Straits of Hormuz.

This was confirmed by Club directors a Board meeting in Geneva and was despite growing political tensions in the region and recent attacks on six tankers.

Chairman, Alan Le Guillard, said: “None of our 2,000 entered ships has experienced problems in the Gulf region despite the ongoing disruption from recent events. The cover we provide to members will continue unchanged. Many of our members have already opted to include war risks in their delay insurance policies, so if the situation in the Gulf deteriorates further, they will continue to be covered.”

Flexible at-cost cover is available for up to 21 days’ delay caused by shoreside and shipboard circumstances. The club became a part of The Standard Club in February this year.

Vice President and Vice Chairman, Hugh Williams, who is about to take over from Le Guillard, added: “Mutual marine delay insurance continues to provide shipowners and charterers with a highly cost-effective way of complementing their P&I and hull and machinery cover. For the price of a few days hire, this insurance provides a full year of protection against the cost of a wide range of unexpected delays up to 21 days, on board and ashore. 

“In today’s increasingly volatile trading environment, it is vital for shipowners and charterers to protect their revenues should their vessels get held up by strikes, port closures, collisions, alleged pollution, cyber-attack, war and other unexpected delays – and in the most cost-effective way possible. With the increased security provided by The Standard Club, The Strike Club is now in an even stronger position to continue meeting this growing demand,” he said.

 



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