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War risk insurance premiums to rise following Saudi attacks

political risk

Insurance experts have said that the attacks on Saudi oil facilities will push up the rates of war risk insurance, S&P Global Platts reported. Svein A Ringbakken, managing director of Norwegian mutual ship assurance association Den Norske Krigsforsikring for Skib, said that war risk insurance rates for ships operating in the Middle East have already increased ten-fold since the attacks on oil tankers in the Gulf of Oman in May.

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