Red Sea a ‘sustainable situation’ for mariners but rates rising: Iumi
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Red Sea a ‘sustainable situation’ for mariners but rates rising: Iumi

Coverage is still available, but large losses could “move the dial” on pricing.

By Samuel Casey
February 07, 2024
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marine cargo ship hull.jpg

The uptick in warlike activity in the Red Sea is a “sustainable situation” for the marine war market, although rates are rising to reflect the increased risk, according to representatives from the International Union of Marine Insurance (Iumi).

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