As the risk of a pirate attack persists, the most pragmatic solution has been to deploy an armed security team aboard the ship. Maritime security companies have rushed into the void, ready to supply armed teams to meet demand, leaving ship owners struggling to decide how best to manage the legal and liability issues. There are many risks related to placing armed guards on board the ship. Lethal weapons, by their very nature, carry with them the potential for death or serious injury.
While the use of armed guards provides an effective deterent, it also generates significant concerns for masters and shipowners who fear the liabilities that may ensue should something go wrong.
Seacurus has evaluated these exposures and has launched an insurance product to cover shipowners’ liabilities and legal expenses arising from the carriage of armed guards. The policy will respond when the insured shipowner, it’s corporate officers, ship’s master and crew are cited in legal proceedings (civil or criminal) following allegations of killing, maiming or personal injury arising as a direct consequence of the actions of armed guards carried lawfully onboard the insured’s vessel.
Scope of Cover
The insurance cover is designed to be a corporate 'sleep easy':
Authorised and regulated by the Financial Conduct Authority