The insurance fees levied on commercial vessels, imprisoned through the Red Sea, became witnesses of a remarkable increase in combination with the resumption of attacks on the Khuti on ships suspected due to the fact that they are associated with Israel, which led to the current week of death and injuries between members of two ships.
Marco Baker, the global head of sea and logistics services at the Marsh Maclinan, the largest insurance company in the world, said that ships owners were forced to pay about 1 percent of the cost of the ship additional insurance fees in exchange for the intersection of the Red Sea in the light of high risk of war in the region.
According to the Bloomberg agency, these fees varyed from 0.2 to 0.3 percent during the period of temporary reduction in the pace of attacks.
This rapid growth in insurance coating betting reflects the growing concern of insurance companies from the return of risks in one of the most important commercial corridors between Europe and Asia to their levels, which were widespread about a year ago.
It is expected that this increase in insurance fees that are worn or its tenants will be carried by swimming in areas with high safety risks in order to increase the costs of sea transport in relation to those courts that still continue to cross the Red Sea. As for ships that prefer to avoid the region, they will have to go along a longer road that runs around the African continent, adding thousands of miles to its journey.
In this context, John Kotzas, the founder of the Greek company “excluded the Brokers ship,” said that the insurance market currently indicates a similar jump in the collection of insurance fees, from about 0.4 percent to about 1 percent for ships floating through the Red Sea.
It should be noted that the Houthi group began to aim on ships in the waters of the Red Sea off the coast of Yemen since November 2023, in the fact that she called the answer to the war of the Israeli war on gas.
Baker explained that ships associated with the United States, the United Kingdom or Israel, or which were the goal of previous Husit attacks, are faced with much higher insurance costs than others.
