Marsh announced that it has concluded a working arrangement with REDfour (MSS) Ltd, a maritime security firm. The two will work together to help ship owners address potential exposures associated with piracy attacks in the Gulf of Aden.
Ship owners will be able to work with REDfour for security services and with Marsh for kidnap and ransom (K&R) insurance coverage. In doing so they “may qualify for significant reduction in their overall K&R insurance costs,” said the bulletin. “In addition, Marsh and REDfour have agreed that clients binding with certain underwriters will be provided services from REDfour at a reduced cost.”
REDfour’s staff includes former members of Special Forces in the British Military, and it “offers a wide range of services that are designed to integrate with an owner’s overall vessel security plan;” these include:
— Pre Gulf of Aden transit training of crew
— Pre Gulf of Aden transit measures, such as barbed and electric fencing and bridge hardening
— Security transit team with non-lethal weaponry
— Armed Security transit team
Lars Gustafson, a senior vice president in Marsh’s Marine Practice, commented: “As the end of the monsoon season approaches, many experts believe there may be a significant increase in the incidence of piracy attacks in the Gulf of Aden. Under these circumstances, ship owners are increasingly focused on tightening their security measures and strengthening their insurance protection. By working with Marsh and REDfour they can accomplish both objectives and achieve significant cost savings in the process.”
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