New Coverages
Sunday, 11/02/2024,
AWRIS is proud to announce the launching of new products to its product mix offered for all its valued member companies effective immediately:
Kidnap & Ransom – (K&R) :
The aim is to market the Kidnapping & Ransom (K&R) insurance solutions the member companies in the midst of the current challenging situation on and off the world’s oceans.
AWRIS in collaboration with “Hansekuranz ” from Germany , will be working closely to ensure the best services provided to all members on the K&R enquiries from providing quotation to binding risks and administration of related claims and policy documentation.
This product will be underwritten on AWRIS paper supported by “Hansekuranz-HK”, headquartered in Münster-Germany. “Hansekuranz-HK”, is a leading underwriting agent for the protection of special marine K&R insurance, 100% supported/owned by ‘Munich Re’.
Event Cancellation :
AWRIS in similar collaboration with “Hansekuranz “, will be working closely to develop another new product on “Event cancellation Re-Insurance”. This will be done on Facultative case by case basis.
Targeted events will be: exhibitions, carnivals , Formula One, Theatres, musical concerts, conferences, festivals, sporting events and alike ( Marathons, Triathlons ,Iron Man & Spartan race, … etc.)
Cargo Shipments from Russia & Ukraine (Grain & Food items):
AWRIS agreed to sign up a treaty with a leading ‘A’ rated security in London to grant AWRIS a cover (on Facultative case-by-case basis) for shipments of grain, wheat, barley, and essential food products, from ports in Russia and Ukraine mainly into the GCC and Jordan.
Therefore, AWRIS will help its member companies to cover these shipments, which are often excluded from the rest of the insurance covers currently available in the market.
We at AWRIS are convinced that these joint efforts will help to improve the business security standards and strengthen protection for our partners and customers and are aiming to make an effective contribution to security and resilience in the shipping industry.
Therefore, AWRIS is ready to study any special coverage required within the limits of facultative placement coverages and according to the terms to be agreed upon.
