Dec 29, 2022
Japan Insurers to Continue Russia Shipping Coverage, Kyodo Says
(Bloomberg) -- Japan’s insurers will continue to provide war-risk coverage for vessels in Russian waters in January, Kyodo News reported Thursday.
The insurance companies said earlier this month that they would halt the marine hull war risk coverage in Russian and Ukrainian territorial waters from Jan. 1. The firms are currently negotiating reinsurance coverage for January contracts and are near a formal agreement, Kyodo said without attribution.
The move will ease concerns about disruptions to Russian liquefied natural gas shipments to Japan. The Japanese government asked the insurers earlier this week to continue the coverage.
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