Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal
Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply chains were thrown into disarray when the 400 meter (430 yard) Ever Given ran aground in the canal on March 23, with specialist rescue teams taking almost a week to free the vessel. Around 400 vessels were affected by the canal’s closure, which led to some having to divert around Afri...
Source: insurancejournal.com