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International

North P&I ends insurance coverage for Russian shipping firm

April 01, 2022 Reprints

U.K.-based marine insurer North of England P&I Association Ltd. has become the first protection and indemnity insurance club to withdraw insurance coverage for Russian state-controlled shipping firm PAO Sovcomflot’s 35 vessels, Lloyd’s List reported. The decision comes after Oleg Ustenko, an economic adviser to Ukraine’s president, requested The International Group of Protection and Indemnity Clubs to stop covering Russian vessels that are still moving the country’s energy commodities shipments.

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North P&I ends insurance coverage for Russian shipping firm

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