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You cant get insurance for sailing in a conflict zone.
by drumhead 3y ago
You cant get insurance for sailing in a conflict zone.
- iammjm 3y agoThis ain’t cheap tho
- bluGill 3y agoSure you can. However it costs a lot more money and so most lines find it cheaper to go around war zones.
- pi-e-sigma 3y agoCan you provide source of your outlandish claim?
- margalabargala 3y agoOn the contrary, the outlandish claim seems to be that anything could be impossible to insure. Insure profitably? Sure. At some point, the cost of the premium exceeds the cost of the thing being insured, making it pointless to insure. Some people describe this scenario as something being "impossible to insure", but it's not meant in the literal sense. In fact I would argue that there is no insurance company that would decline to insure a $100 million cargo through a combat zone, if the premium offered was $150 million.
- pi-e-sigma 3y agoSo no actual source?
- bmicraft 3y agoThe article from flexport states that insurance rates through there are 3.5x of what they were in the beginning of december
- margalabargala 3y agoDo you have a source for your extraordinary claim that such insurance cannot be bought? Surely such a divergence from the status quo would be written somewhere more official than a social media comment.
- deleted 3y ago[deleted]
- MostlyAmiable 3y agoWar risk insurance absolutely exists. > Insurance industry sources said that war risk premiums had stayed firm on Monday at between 0.05% to 0.1% of the value of a ship, from around 0.03% estimated last week before the attacks. https://www.reuters.com/world/middle-east/war-risk-insurance-rates-edge-up-after-surge-red-sea-ship-attacks-2023-12-04/ https://www.reuters.com/world/middle-east/war-risk-insurance...
- pi-e-sigma 3y agoThe original claim was about 'sailing in a conflict zone', a.k.a. getting fire insurance for a house that is already on fire.
- bluGill 3y agoThe original claim is "You cant get insurance for sailing in a conflict zone." Which we have clearly shown is false by showing current insurance rates for sailing in this conflict zone.
- bluGill 3y agohttps://youtu.be/8GKlKYQDDcQ https://youtu.be/8GKlKYQDDcQ Someplace in that hour long video he give the current insurance rates for this route, and how the cost of insurance compares to going around.