Norwegian Hull Club is proud to announce that today we are publishing a new version of the Handbook on Loss of Hire Insurance. As one of the largest providers of Loss of Hire Insurance worldwide, Norwegian Hull Club first published the Handbook to provide our members and the market at large with explanations to the Nordic loss of hire conditions. The greater part worldwide of the Loss of Hire Insurance policies is written on Nordic Insurance Conditions. This ambition has resulted in two previous editions of the Handbook on Loss of Hire Insurance (1999 and 2008).
The second edition of the Handbook was based upon the Norwegian Marine Insurance Plan of 1996 version 2007. Since then, the Plan has continuously been revised, with the updated version of the NMIP was published in 2013. Having the support of the four Nordic shipowners’ associations in the drafting of the Plan further strengthened the Plans position as a fair and balanced system for protecting shipowners’ interests.
Due to the continuous revision of the Plan and the respective amendments following from the revision process, it was appropriate to review and update the Handbook on Loss of Hire insurance accordingly. Having authored the previous editions, it was natural to ask Haakon Stang Lund to be the author of the third edition, a task we are grateful he was willing to take on. With support of colleagues of our Legal, Claims and Underwriting Departments, a third edition of the Handbook covering the insurance conditions of Chapter 16 of the Nordic Marine Insurance Plan of 2013 version 2016 was completed.
It is therefore a great pleasure to present the new edition of the Handbook on Loss of Hire Insurance which is available free of charge on our website.
We sincerely hope that the updated edition will prove useful, and that the digital format will provide for an easier reading experience.
For further information regarding Loss of Hire Insurance please do not hesitate to contact our underwriters.
