Global shipping insurers to scrap coverage for Russia, Ukraine and Belarus ...News

Russia Today - Economy
Global shipping insurers to scrap coverage for Russia, Ukraine and Belarus
source : Russia Today ( News ) () 34
Companies say they can no longer provide coverage to clients because reinsurers are exiting the region amid the conflict A group of companies known as P&I (protection and indemnity) clubs that offer insurance for the majority of the world’s ocean-going ships will stop providing war risk coverage in Russia, Ukraine and Belarus from January 1, according to notices on the groups’ websites. The notices said the insurers will no longer cover any loss, damage, liability, cost or expense “caused by or arising from or in connection with any Russia-Ukraine conflict and/or any expansion of such conflict.” At least 12 of the

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