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Suez Canal blockage leaves ‘(re)insurers significantly exposed to business interruption risks’

By Jon Guy 2021-04-01T07:15:00

suez canal

As the Suez Canal reopens, the insurance industry is bracing itself for huge losses ‘made up of compensation for delays’ and covering ‘potential damage to cargo’

Brokers and underwriters in the UK are scrambling to understand the full impact of the blocking of Egypt’s Suez Canal, which resulted in disruption to global shipping as companies awaited vital goods and parts.

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