Insight and Intelligence on the London & International Insurance Markets 22 Jan 2018

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Major risk loss feared following East China Sea collision

  • Adam McNestrie 9 January 2018
  • Steamship Mutual, Korean insurer Hanwha and PICC all lead covers that have exposure to the major shipping accident at the weekend involving the Iranian oil tanker the Sanchi, The Insurance Insider understands.

    The Sanchi collided with the Chinese cargo ship CF Crystal on Saturday (6 January) in the East China Sea. Fears are mounting in the marine market of a substantial loss that will hit a range of cargo and hull coverages, and potentially impact the lower end of the...

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