by AIP Online Bureau | Mar 7, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
War risk insurance rates have already reflected the sinking of the Rubymar cargo ship, days after being hit by a Houthi missile on Feb 18, and the first fatalities from the True Confidence, said Munro Anderson, head of operations at marine war risk and insurance...
by AIP Online Bureau | Mar 7, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Reinsurance, Risk Management
After Yemen-based Houthi rebels have targeted ships in the Red Sea and surrounding waters over the Israel-Hamas war. the shipping costs have jumped and consignments are taking more time to reach Europe and the US as the ships are taking the Cape of Good Hope route,...
by AIP Online Bureau | Mar 4, 2024 | International News, Non-Life, Reinsurance, Risk Management
Insurance industry sources said that war risk premiums being quoted for Red Sea voyages had remained around 1% of the value of a ship for some weeks – compared with around 0.5% before the attacks started – with various discounts applied by underwriters The cost of war...
by AIP Online Bureau | Mar 2, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
“Just about all (dry bulk grain) vessels going from the Americas and western Europe are avoiding the Red Sea, the only exception is vessels going to Iran, they’re still taking the Red Sea route when shorter.All vessels we are tracking going from the Black Sea to Asia...
by AIP Online Bureau | Feb 28, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Reinsurance
Almost all of India’s trade with Europe goes through the Red Sea channel, India’s ambassador to the United Arab Emirates said, adding to the urgency for the India-Middle East-Europe Economic Corridor project The volatile situation in the Red Sea increases the need for...
