War Risk Insurance Terms for 2026
The threat landscape for commercial shipping continues to evolve, with targeted campaigns increasingly affecting vessels and maritime infrastructure. Areas of particular concern include the Black Sea, Red Sea, Indian Ocean, and Persian Gulf, where recent incidents have involved missiles, one-way UAVs, uncrewed surface crafts, and renewed mine activity. Some of these systems are inexpensive, widely available, and easy to deploy, giving attackers disproportionate reach and impact relative to their resources. Cyber events aimed at disrupting operations also remain a persistent risk. These threats are theatre-specific and often blend state and non-state involvement, complicating attribution and elevating risk.
Piracy has seen a notable resurgence, particularly in the Indian Ocean, with incidents reported well beyond traditional coastal hotspots. This shift reflects both opportunistic targeting and reduced naval deterrence in certain areas, requiring heightened vigilance and route-specific planning. The Club’s Kidnap for Ransom & Hijack Insurance (K&R) product, which is an annual coverage with chargeable breach transits in certain high risk areas, is specially designed to fill the gap between traditional products. The cover is offered with different limits and provide cover for ransome payments, crisis consultants and other expenses.
The Swedish Club’s war product remains responsive on a global basis, offering competitive terms, flexible solutions, and timely service. We maintain close dialogue with members and brokers to ensure cover reflects operational realities and adapts swiftly to geopolitical developments. The Club’s standard war risks cover also extends to cyber-related war risks, specifically malicious cyber operations that enable or amplify physical threats, with such protection provided on a portfolio aggregate limit basis. This structure is designed to complement our standalone Cyber Marine product, and members are encouraged to combine both products to achieve a comprehensive and resilient risk solution.