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International

Arctic route poses major challenges for shipping insurers

August 30, 2018 Reprints

Germany-based International Union of Marine Insurers said that insurers are likely to face challenges covering ships navigating through the Arctic amid a lack of historical loss data and infrastructure, The Maritime Executive reported. The association said that marine insurers will assess Arctic voyages on a case-by-case basis with designated areas remaining either exempt from insurance cover or undertaken on conditional terms.

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Arctic route poses major challenges for shipping insurers

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