DNK Special Covers

In addition to the war risk insurance cover based on the Nordic Marine Insurance Plan, DNK exclusively offers a number of extended covers to their members as part of the Associations objective to ensure the marine sector access to adequate insurance cover against war perils.

Major powers war

Pursuant to the the Plan, in the event of war or war-like conditions breaking out between major powers, an insurance against war perils shall automatically terminate. DNK offers an extended cover for 60 days with a maximum aggregate limit of USD 1 billion.

Radioactive and biochemical perils

Pursuant to the Plan, war risk insurance excludes perils covered by the RACE II clause:

1. ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel,
2. he radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof,
3. any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter,the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter,
4. any chemical, biological, bio-chemical, or electromagnetic weapon.

DNK offers an extended but limited cover for RACE II perils and for certain contingency expenses arising directly out of the use of any chemical, biological, bio-chemical, or electromagnetic weapons. This cover does not apply for newbuildings.

Requisiton by own State

In addition to the standard war risk cover against interventions by a foreign State power, DNK insurance also offers a limited cover for requisition for ownership or use by the State power in the ship's State of registration or in the State where the major ownership interests are located.

For more information regarding the DNK special covers, please contact anders.hovelsrud@warrisk.no