Mideast Conflict Affects Maritime Insurance

This is a U.S. news story, published by CNBC, that relates primarily to David Osler news.

U.S. news

For more U.S. news, you can click here:

more U.S. news

David Osler news

For more David Osler news, you can click here:

more David Osler news

News about middle east business & economics

For more middle east business & economics news, you can click here:

more middle east business & economics news

CNBC news

For more news from CNBC, you can click here:

more news from CNBC

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about middle east business & economics, you might also like this article about

maritime insurance

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest Middle East ocean freight rates news, insurance firms news, news about middle east business & economics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

many insurance underwriters

CNBC

•

World

Many insurance underwriters won't offer Middle East coverage to U.S., Israel, U.K.-linked vessels at any price

Summary

Nutrition label

81% Informative

Many underwriters are not offering Middle East -based coverage to any U.S. , Israel or U.K.-linked vessels.

Rates among insurance companies are now ranging between 0.25%-0.45% of ship value, up from 0.125% a few weeks ago .

Rates should ease off if the current tentative ceasefire holds, says Lloyd's List's David Osler .

" Five percent of around a million dollars , or a million and a half dollars , depending on the size of the ship. It was a very significant increase in the value of grain, which was way less than the value of a cargo of oil and a VLCC [very large crude carrier]. It's just a question of different underlies, different appetites, different risk perceptions, and that will influence where things go," Baker added..

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful