History

The Norwegian Shipowners' Mutual War Risks Insurance Association

The outbreak of the First World War induced a need to establish a dedicated institution to ensure the marine sector access to adequate insurance cover against war perils. As a consequence the predecessor of the Norwegian Shipowners' Mutual War Risks Insurance Association was established in 1914. The institution was liquidated a few years after the war.

Due to the increasing political unrest of the nineteen thirties, the Norwegian Shipowners' Mutual War Risks Insurance Association, called Den Norske Krigsforsikring for Skib, Gjensidig Forening, was established in its current form at a Statutory General Meeting on the 30th October 1935.

Since its incorporation, the Association has been open for membership by companies within the Norwegian Shipping Community. The Association's purpose is to insure on a mutual basis, interests attached to vessels, drilling rigs and similar movable units against war risk, as defined in the Norwegian Maritime Code of 24th June, 1994, Section 507. Insurance conditions as per the Nordic Marine Insurance Plan of 2013.