Chinese Ships Get Insurance Edge Navigating Red Sea
Chinese Ships Get Insurance Edge Navigating Red Sea
gcaptain.com Chinese Ships Get Insurance Edge Navigating Red Sea
By Alex Longley and Áine Quinn (Bloomberg) — Chinese-owned merchant ships are getting hefty discounts on their insurance when sailing through the Red Sea, another sign of how Houthi attacks in...
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Insurance companies are very good at materialist analysis. Their business depends almost entirely on accurately pricing risk of real events (weaseling their way out of paying for claims makes up the balance). If the actuaries are discounting Chinese shipping insurance to this degree, we can safely say that Chinese ships are getting a pass by the Houthis. I wish both the Chinese and Houthis the best in their respective efforts.