News & Events
NEWS | Aug 13

Cargo War Insurance – Middle East

Increasing political tensions in the Arabian Gulf and Gulf of Oman have led insurers to issue seven-day Notices of Cancellation. RFIB can offer competitive solutions to your clients and ensure coverage is uninterrupted.

In view of recent events in the Arabian Gulf and Gulf of Oman with several tankers being attacked and most recently the detention of “STENA IMPERO”, Cargo War Insurers have issued 7 days Notice of Cancellation.

Notice of cancellation is in respect of War Risks only and is primarily focused on shipments of Oil and Oil related products including LPG and LNG. If Notice of cancellation has been issued by cargo insurers, to ensure coverage is reinstated, additional premium, terms and conditions must be agreed prior to commencement of the voyage.

We understand that not all markets have issued Notice of Cancellation, but with little to suggest the situation will improve in the short term we can expect others to follow.

Our Solution

RFIB Group Ltd are recognised as one of the leading marine war specialists in the London market with over 35 years experience in this field and with a dedicated broking team to support you.

Our unique Cargo War program, developed over the last 35 years, is designed specifically to also help clients manage these challenges, enabling your clients to achieve competitive solutions and uninterrupted Cargo War cover for the Arabian Gulf and Gulf of Oman. We can naturally also accommodate other areas in the world where there is frequent volatility.

Key Elements of Cover:

 Limits available extend up to USD200,000,000 on any one vessel

  • Nil Deductible
  • Single voyage or annual basis
  • Volume discounts are available
  • Conditions are normally based on the Institute Cargo War clauses and Institute Cargo Strike clauses (or equivalent)
  • No Claims Discount may be available (NCD Protection can also be offered)
  • Direct or reinsurance
  • Capacity is 100% Lloyd’s of London and London Companies

For more information please contact:
Andrew LC Smyth LLB
RFIB Group Ltd
Direct Line +44 (0) 20 7621 8408
Main Switchboard: +44 (0) 20 7621 1263
Mobile: +44 (0) 75 2617 6210

Adam Moy
RFIB Group Ltd
Direct Line: +44 (0)20 7621 6825
Main Switchboard: +44 (0) 20 7621 1263
Mobile: +44 (0) 78 4348 7034