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War risk insurance premiums to rise following Saudi attacks

Posted On: Sep. 18, 2019 7:33 AM CST

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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