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International

Singapore: Shipping association mulls formation of war risk mutual

September 29, 2014 Reprints

The Singapore Shipping Association is considering creating a war risk mutual for the development of the country's marine insurance sector, Seatrade Global reports.

Patrick Phoon, president of the association, said a working group has been given the task to explore the creation of a Singapore War Risk Mutual in the marine sector.

The move would help shipowners achieve considerable cost-savings, said Mr. Phoon.

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Singapore: Shipping association mulls formation of war risk mutual

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