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This paper analyses the implications of non-compliance with the requirementsestablished in the International Ship and Port Facility Security (ISPS)Code, particularly ship security assessments (SSA) and ship security plans (SSP),on the loss of marine insurance coverage. The study is conducted within theframework of maritime security, focusing on perils insured and losses covered,based on the Nordic Marine Insurance Plan of 2013, version 2019, and its connectionwith the requirements of the ISPS Code. This mandatory code was incorporatedinto the International Convention for the Safety of Life at Sea (SOLAS),1974 as amended, through chapter XI-2 on “Special Measures to EnhanceMaritime Security”, which comprises a package of maritime security amendmentsthat entered into force on July 1, 2004.The authors conclude that the lack of a properly certified ship securityofficer (SSO), the International Ship Security Certificate (ISSC) and an approvedand fully implemented SSP on board the vessel, as well as substantial breachesin the implementation and compliance of the respective security plan and itscompulsory procedures, can lead to the loss of marine insurance coverage. Particularexamples include cases where the losses were caused by negligence incomplying with the ISPS Code related to security perils such as piracy, hijacking,transport of drugs and other illegal items, among others; the authors also observea causal connection between the loss and the infringement to the procedures ofthe plan. Aside from future research directions, this paper also discusses theoreticaland practical implications for researchers and practitioners in the areas ofmaritime security and marine insurance. Finally, the authors highly recommenda new revision to the Nordic Marine Insurance Plan to include clear and specific provisions about the obligation of ship-owners concerning implementation andcompliance of the ISPS Code requirements, with regards to the SSA and the SSPwith its mandatory procedures.