Japan Club cover for EU-sanctioned Russia cargoes of ‘little real benefit’
‘Even where owners and insurers are willing and able to continue to do business in sanctions-bound Russia, the broad reach of EU and other sanctions means that the highest levels of insurance to which owners are accustomed may simply be unavailable for this type of business,’ argues Mike Phillips
Members relying on payouts up to the $10m retention limit may find themselves with substantial uninsured losses, legal experts warns
