Insurance company is dangerous? There is a shipowner who has a $ 600,000 premium for a week.
- Author:Revin
- Release Date:2022-03-09
Under the conflict in Russia, the ship war insurance rose sharply, some shipowners said that the amount of insurance in one week actually reached 7% of the ship!
Insurance company is dangerous? There is a shipowner who has a $ 600,000 premium for a week.
Since the explosion of Russian, at least 5 ships have attacked in the Black Sea waters and at least one sea operator is confirmed in the attack.
The London Insurance Market will include the list of "Ukraine and Russian Waters around the Black Sea and Asia" on February 15 this year. Insurance companies may be adjusted on related premiums, and ships enter the above area will be charged by insurance companies. Insurance, the rental boat enters the area and also fulfills its obligations in accordance with the theater.
Joint War Committee, JWC is a representative of organizations in the interests of the London War Market, which consists of the representatives of the Laracid Social Sida member and the London Insurance Company market, usually once a quarter, review it Merchant ship is prone to war, strike, terrorism such as high-risk areas.
According to the statement of the Organization, JWC has placed the "Black Sea and Asia Ukraine and Russian Waters" as theater, the effective date is 23 days.
On February 24th, Russia officially attacked Ukraine (PS: Have to say how this JWC determines the entry into force of the 23rd?) Almost all of the sea traffic in the black sea area.
In the current environment, many insurers have announced that they will refuse to provide corresponding war insurance for ships that are trapped in the sea near Ukraine, which further causes the insurance overheating phenomena in the region.
Some shipowners have to pay high-income premiums for this.
In fact, according to an insurance brokerage company on March 1 report, the three-day update rate in the above region has increased from (calculated by estimated ship) to 2% - 5% The super high level is equivalent to the highest rose by 200 times.
According to the knowledge of the two shipowners in the local waters, the premium rate has further rose by 7% on March 4 (calculated by estimated ship price).
A shipowner is dissatisfied, some people smell the opportunity and are being caught in the opportunity to prepare a bite. Some sources of insurance brokerage companies said that some shipowas may have to pay for their shipping for a week of insurance fees.
The above shipowner said that this is simply plundering, but the shipowners have no other choices. You can only choose insurance or tolerate the risk of insurance, but if you choose to be insured, then it's almost five weeks later, you have May be lost.
However, according to foreign shipping media trade, some war insurance insurers are currently between 1% -4% for the insurance rate provided by the hull (depending on the risk).
Usually, in general, after 7 days after determining a new additional preservation zone, the war is automatically renewed at a higher rate. But the reality is that there seems to have many insurers or not to automatically renew terms or give excellent rates.
Julian Clark, Julian Clark, a Global Advanced Partner, is also a question mark for the legal obligations of the insurer's automatic renewal.
Another person in charge of the ship management company with a ship said that we have been required to pay premiums in 5% last week, and only 3 days. He also said that very "lucky" is negotiating that we will ultimately pay the premium paid by 2%.
At present, the emotions of shipowners in the shipping industry are particularly strong, because they feel that only they are responsible for complete exceeding their control or responsibility.
"Those who are admiring, still moored in the same place, performing the obligations of the chartered contracts ... They are now unwaveled by the rocket, mine threats and insurance companies."
Another major cause of the current insurance market is also, given the upgrade of the situation, several insurance companies even refuse to offer quotes.
This is especially serious for the US-supporting insurer. They are very sensitive to legal issues, refuse to touch any vessels in the Black Sea, Ukraine or Russia, because they are worried that they may violate sanctions.
Insurance company is dangerous? There is a shipowner who has a $ 600,000 premium for a week.
Since the explosion of Russian, at least 5 ships have attacked in the Black Sea waters and at least one sea operator is confirmed in the attack.
The London Insurance Market will include the list of "Ukraine and Russian Waters around the Black Sea and Asia" on February 15 this year. Insurance companies may be adjusted on related premiums, and ships enter the above area will be charged by insurance companies. Insurance, the rental boat enters the area and also fulfills its obligations in accordance with the theater.
Joint War Committee, JWC is a representative of organizations in the interests of the London War Market, which consists of the representatives of the Laracid Social Sida member and the London Insurance Company market, usually once a quarter, review it Merchant ship is prone to war, strike, terrorism such as high-risk areas.
According to the statement of the Organization, JWC has placed the "Black Sea and Asia Ukraine and Russian Waters" as theater, the effective date is 23 days.
On February 24th, Russia officially attacked Ukraine (PS: Have to say how this JWC determines the entry into force of the 23rd?) Almost all of the sea traffic in the black sea area.
In the current environment, many insurers have announced that they will refuse to provide corresponding war insurance for ships that are trapped in the sea near Ukraine, which further causes the insurance overheating phenomena in the region.
Some shipowners have to pay high-income premiums for this.
In fact, according to an insurance brokerage company on March 1 report, the three-day update rate in the above region has increased from (calculated by estimated ship) to 2% - 5% The super high level is equivalent to the highest rose by 200 times.
According to the knowledge of the two shipowners in the local waters, the premium rate has further rose by 7% on March 4 (calculated by estimated ship price).
A shipowner is dissatisfied, some people smell the opportunity and are being caught in the opportunity to prepare a bite. Some sources of insurance brokerage companies said that some shipowas may have to pay for their shipping for a week of insurance fees.
The above shipowner said that this is simply plundering, but the shipowners have no other choices. You can only choose insurance or tolerate the risk of insurance, but if you choose to be insured, then it's almost five weeks later, you have May be lost.
However, according to foreign shipping media trade, some war insurance insurers are currently between 1% -4% for the insurance rate provided by the hull (depending on the risk).
Usually, in general, after 7 days after determining a new additional preservation zone, the war is automatically renewed at a higher rate. But the reality is that there seems to have many insurers or not to automatically renew terms or give excellent rates.
Julian Clark, Julian Clark, a Global Advanced Partner, is also a question mark for the legal obligations of the insurer's automatic renewal.
Another person in charge of the ship management company with a ship said that we have been required to pay premiums in 5% last week, and only 3 days. He also said that very "lucky" is negotiating that we will ultimately pay the premium paid by 2%.
At present, the emotions of shipowners in the shipping industry are particularly strong, because they feel that only they are responsible for complete exceeding their control or responsibility.
"Those who are admiring, still moored in the same place, performing the obligations of the chartered contracts ... They are now unwaveled by the rocket, mine threats and insurance companies."
Another major cause of the current insurance market is also, given the upgrade of the situation, several insurance companies even refuse to offer quotes.
This is especially serious for the US-supporting insurer. They are very sensitive to legal issues, refuse to touch any vessels in the Black Sea, Ukraine or Russia, because they are worried that they may violate sanctions.