Managing General Agent ADVA Underwriting (ADVA) has announced the launch of its new marine insurance initiative aimed at protecting ship owners, ship managers, cargo owners and charterers from war risks and piracy around the world.
This initiative complements the firm’s existing marine offering and broadens its support to brokers and their marine clients. ADVA will be able to underwrite lines of up to USD150,000,000 including for voyages to and from designated war risks exclusion zones.
ADVA Co-founder Harj Sandhu commented, “The introduction of a facility for marine war risks targets an important area that will ensure we continue to support our brokers and clients, and we now have the ideal platform for realising that ambition.”
The increasingly uncertain international security landscape has put the importance of war risks insurance very much in the spotlight in recent times. By working closely with insurers on the company’s Advantage© platform, the Hong Kong and London offices are now able to bring real time underwriting to Asian clients.