Nordic Hull

Nordic Marine MGA Hull facility

Nordic Hull provides comprehensive H&M insurance via an MGA setup (Managing General Agency) backed by A-rated insurers and managed by Nordic Marine’s experienced and recognised underwriting and claims handling team.

The facility provides comprehensive H&M insurance, increased-value (IV), freight interest (FI) and loss-of-hire (LoH) cover.

We currently manage two full H&M MGA’s :

  • West of England Ship Owners Mutual Insurance Association (Luxembourg)

  • SiriusPoint International Insurance Corporation (publ), Stockholm

The MGA is a common market setup that enables us to deliver professional underwriting services on behalf of one or more insurers.

Nordic Hull’s dedicated underwriting team is made of Jan Limnell, Constantinos Elmaoglou, Yiannis Minovioudis and Mathias Lindqvist, whilst the claims side is handled by Magnus Hammarqvist and Konstantinos Korais.

Founded in 2012, Nordic Marine has delivered both niche and mainstream marine insurance products, strong of our proven record and strong partnerships with major re-insurers.

Our experience and expertise means that we not only understand the risks faced by our clients but that we are also capable to conceive and prepare new approaches to risk selection and deliver new solutions.

Nordic Hull – MAIN POINTS :

Nordic Hull is based on the same underwriting philosophy applied to our Nordic LoH, Nordic PLoE (Primary Loss of Earnings) and Nordic Delay business, so all fleets written under Nordic Hull will be provided with terms for our Nordic PLoE.

Each enquiry is reviewed by no less than two separate underwriters (four eyes policy), an underwriting approach that has been our trademark since day one and delivered a positive technical underwriting performance.

All fleets that will be provided with terms for mainstream H&M will, first and foremost, fit the risk profile for our Primary Loss of Earnings, so the risk selection will be the same as the one we successfully applied to our core niche covers and will privilege quality risk profiles and long-term relationships.

IN RISK PROFILES :

  • Follow lines on well-known / reputable risk leaders

  • Policy wording basis Nordic Marine Insurance Plan, Institute Time Clauses Hulls and American Hull Clauses

  • Focus on standard Bluewater tonnage and primarily tankers, bulkers and other cargo vessels

  • Other conditions and vessel types are considered on a case-by-case basis for good risks

  • Minimum deductible, leader’s deductibles

IN NUMBERS :

H&M

  • $13M capacity

  • H&M line up to 25%, ideally with a matching line on the IV / FI

Conventional Loss of Hire (LoH)

  • Conventional LoH is provided with Nordic writing 100% share backed by A-Rated security as leaders (see Nordic LoH) and with a minimum deductible of 7 days or
  • Follow Lines of up to 50% under the H&M MGA (but always maximum line up to leader’s share) and with a minimum deductible of 14 days
  • Indemnity days usually 60 or 90 days per event
  • Additional days can be considered on a case-by-case basis

Nordic Marine also provide :

  • NORDIC LoH
    Innovative conventional LoH insurance with a standard deductible of 7 days (Nordic Loss of Hire).
  • NORDIC PLoE-H&M
    A unique standalone policy that covers delays that are or would be covered under an Assured’s mainstream H&M policy, up to 14 days, i.e. : the usual minimum deductible for conventional LoH (Nordic PLoE-H&M).
  • Nordic Delay
    Bespoke and stand-alone tailor-made named-peril insurance that provides a “buy back” option for delays expressly excluded under the mainstream H&M and P&I policies and with deductible as low as 1 day (Nordic Delay for Owners).
  • NORDIC Maritime Lien
    Maritime Lien insurance for Charterers’ Debts, ideal for Pool managers that bear the consequences of chartering choices.
    Maritime Lien for Bareboat Charterers’ Debts, a unique standalone policy launched in 2024 and solely provided by Nordic Marine (Nordic Maritime Liens).