The Norwegian Hull Club has launched a policy to cover shipowners for the additional costs of green recycling in the case of a wreck removal.
The Bergen-based mutual insurer's new policy comes in response to increasing international regulation requiring that ships are dismantled in a safe and environmentally friendly way.
The policy, known as Sustainable Recycling Interest, will pay the additional costs of green recycling if a vessel is declared a constructive total loss in a casualty situation.
