This normally covers the assured’s economic interest in the increased capital value of the ship (hull interest insurance / increased value insurance) and in the long-term freight interests of the ship (freight interest insurance).
The hull interest insurance typically also covers excess collision liability.
Norwegian Hull Club offers separate Total Loss insurances on all standard international conditions.
Norwegian Hull Club – the Preferred Leader
When placing insurance with Norwegian Hull Club as Leader, an Assured has access to claims handling experience, service levels and competence of the highest quality. We handle claims and critical situations in the most professional way. We prioritise and make claims settlements much quicker than the industry average, through practical, solution-driven claims handling and involvement from notification to final payment. Norwegian Hull Club encourages teamwork together with the Assured and the broker.
Our world-leading contingency support and operational intelligence services are developed from handling some 2,500 claims every year. We organise a wide variety of loss prevention activities for both ship and shore-based staff, sharing experience from actual incidents, aimed at improving industry best practice.