Suez Canal blockage could cost insurers over $100 million
Posted On: Mar. 26, 2021 9:42 AM CST
An analyst at insurance brokerage McGill and Partners Ltd. believes that the Suez Canal blockage caused by the Ever Given containership is likely to cost insurers and reinsurers more than $100 million, Reinsurance News reported. David Smith, head of hull and marine liabilities at insurance brokerage McGill and Partners Ltd., said it may take weeks to dislodge the 224,000-ton vessel stuck in the waterway since March 23.