Prepare - Protect - Prevent
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Support to Ship Owners
Ship Owners Contingency Cover. (SHOCC). This is a Kidnap and Ransom (K&R) policy that indemnifies ship owners from the loss of having to pay a ransom for the release of crew that have been kidnapped. The cover is available for individual ships or a fleet and or either individual transits through the JWA Listed Areas or for a period of one year on a global basis with an Additional Premium (AP) being paid for declared transits through the Listed Areas.
The maximum cover available is US$ 5 million per insured event or in the aggregate. There is a Loss of Hire extension available. conditions of insurance. This is a standalone policy so a claim cannot fall between the cracks between Hull, Cargo and War covers. There are no subrogation clauses against the Owners other policies.
ISSL, as SHOCC Underwriters nominated Risk Advisors, are tasked with advising on the negotiation of the release of kidnapped crew and have the infrastructure in place to oversee the delivery of any monies paid by the ship owners as part of the arrangements to release their vessel and crew.
ISSL is also available to give Risk management advice, including training and target hardening of the vessel and its crew. We can and do also place Security teams on board vessels during their transits through danger areas.
ISSL also has the ability to arrange on behalf of owners, specialist non lethal Anti Piracy equipment to aid in defence of a vessel. The latest equipment suggested is the Nemesis 500 Anti Piracy Boarding Defence System and the 3rg generation Long Range Acoustic Device (LRAD) equipment.
The UK MP’s Expenses Scandal
John Wick, the Managing Director of ISSL, was the person responsible for getting the information that became the MP’s Expenses Scandal into the public domain. For some considerable period there had been public interest in the expenses MP’s claimed but despite various requests via the Freedom of Information, the authorities at the Palace of Westminster consistently stone walled the requests.
Wick arranged for the information that was given to be published by the Daily Telegraph across all political parties with the understanding that the identification of the Source/s would never be given. Although the story still runs today this anonymity is still true
The result of the exposure has been a complete change in how MP’s are scrutinised and how they are held accountable by the public.
Read the John Wick story online at The Daily Telegraph 21 May 2009.
Article written on the 24 June 2009 for the Daily Telegraph
Article written by John Wick in the Daily Telegraph 26 Sept 2009
Read the John Wick story online at The Times. (Requires registration)