Marine insurers drop automatic war coverage, further complicating shipping sector

Marine insurance companies have begun to exclude automatic “war” coverage in some cases from their marine cargo policy in areas affected by Russia's invasion of Ukraine.

The development adds another potential cost complication for companies shipping seafood, after leading shipping lines Maersk, MSC and Hapag-Lloyd suspended routes to and from Russia.

"There is the opportunity to request coverage on a spot basis, with underwriters being able to either accept or deny the request," marine insurance expert Michael Lieberman at insurance brokerage Foa & Son Corp told IntraFish.