Howden announces new war risk cargo insurance cover

U.K.-based Howden Broking Group Ltd. has launched a new war risk cargo insurance cover to protect vessels within an active conflict zone, which encompasses the Red Sea, the Indian Ocean, and the Bab al-Mandab Strait, Reuters reported. The insurance will cover vessels against drone and missile attacks as geopolitical tensions increase in the region. Markel Group Inc. is one of the lead underwriters on the product, while Navium Marine Ltd. is the co-lead.