Dryad Global is partnering with an approved Lloyd’s of London broker with over 70 years of market experience. CR International, part of the CR Group, is one of the largest European players for retail business, placing insurances on War Risks, H&M and P&I (amongst others) for more than 9,500 vessels.
The new business alignment means that shipowners and charterers are provided with the best actionable risk intelligence, which in turn allows for competitive premiums rather than a ‘one-cost-fits-all’. Dryad Global clients can now access transit risk assessments and insurance cover all in one place, at their point of need 24/7/365.
In addition to security understanding, client’s can benefit from tracking software that brings an added time and cost saving. Vessels can be tracked from A to B without the need for Master’s or Office personnel having to declare voyages – they will automatically be picked up and cover secured.
The insurance services offered by CR International and Dryad Global are market-leading, offering clients a complete solution that identifies, predicts, monitors, measures and quantifies risk through intelligence analysis.
Phil Diacon, CEO Dryad Global said:
“This partnership is a continuation of our commitment to disrupt the traditional maritime security market with intelligence led insurance solutions that put the client’s needs first. We are committed to streamlining process and collaborating with A-rated partners to deliver considered, competitive insurance solutions, exceptional maritime security support and customer service”.
The cover can operate back-to-back with the existing coverages as the War clauses can be amended to match or follow the basis of the H&M/War conditions such as ITCH, Nordic Plan, American Institute clauses. All cover is attested to as fit for purpose by Dryad Global.
The War Risk insurance services are part of a wider offering of tailor-made security, risk and insurance solutions provided by Dryad Global to its clients to ensure efficiency and a modern, streamlined approach to maritime security provision. The alignment of CR international and Dryad Global ensures that both shipowners and charterers are provided with up to date risk analysis to obtain cover at the right terms, at the right price and for the right period.
Simon Hayward is Head of Marine Services at CR International said:
“CR International is pleased to support Dryad Global to enable clients to benefit from risk assessment knowledge and actions. Dryad Global are at the forefront of security intelligence, transit assessment technology and risk advice and we believe shipowners, charterers and insurers can benefit from this support.”
In recent years there have been an increase in War Risks claims. In most recent times, the Joint War Committee re-designated the High Risk Areas off West Africa and East Africa, bringing war risk insurance to the further to the front of many shipowners’ minds.
Shipowners are frequently boxed into opting for a certain routing but with CR International working side by side with Dryad Global, insurance rates can be tailored to the client’s specific needs based on an accurate and fair analysis of risk which is designed to save client’s time and money while ensuring a first class commitment to the provision of Safety Of Life At Sea (SOLAS).