CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, has today launched a new marine kidnap and ransom solution delivering unique new options for vessels and their crews facing renewed threats from maritime piracy.
In a world first, CFC’s upgraded marine K&R now uses vessel smart tracking technology – shaped in-house by CFC’s innovation team – to detect the moment an insured vessel enters higher risk marine areas and instantly alert the client, enabling real time activation of necessary coverage and safeguarding against being uninsured in high-risk waters.
“Incidence of piracy at sea is becoming more widespread, with the International Maritime Bureau’s Piracy Reporting Centre recording a 20% increase in piracy events in 2025 compared to 2024” says Alexander Beaton, Team Leader – Kidnap, War & Piracy at CFC. “At the same time, the severity of piracy in key high-risk areas is not diminishing as maritime crime is no exception to the impact of global instability."
Marine K&R insurance provides valuable cover that simply isn’t available under any other insurance policy, protecting not just the vessels but, equally importantly, the people on board. This new upgrade ensures continuous coverage for vessels operating near restricted areas, while enhancing flexibility and choice. Alexander Beaton, Team Leader – Kidnap, War & Piracy
"Vessel owners need the comprehensive global protection that our new product provides and seafarers deserve it.”
CFC’s updated marine kidnap & ransom policy provides coverage for vessels on a worldwide basis, with additional premiums due when the vessel enters a restricted area. Throughout the policy period, CFC will track vessels in real time and issue automatic notifications when an imminent entry into a restricted area is detected. Insureds have the option of adding immediate cover. Additional premiums accrued under the policy are payable quarterly in arrears, with CFC handling administration.
CFC’s upgraded Marine K&R is available to brokers globally either off-the-shelf or through a bespoke underwriting process and using its advanced digital underwriting platform, CFC has created an efficient, low-touch quote and bind process, making this vital cover even simpler for brokers to transact.
Beaton concludes: “We’ve reduced what was an onerous sales process for brokers to a frictionless experience, reducing the admin burden so that it’s a straightforward annual touch point that will ensure their maritime clients have cover that is fit for purpose amidst the highly volatile K&R threat levels in the global marine industry.”
