War risk insurance premiums to rise following Saudi attacks

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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