Marine war risks insurers worry about further ship detainments in Ukraine

The first anniversary of the start of the conflict is likely to trigger detainment clauses in many of the war risks policies held by shipowners and operators, writes Francis Churchill of Insurance Day

The risk that Russia could detain ships using the Black Sea grain corridor is creating a sizable aggregate exposure for hull war insurers, Gallagher has warned. The international broker said aside from the obvious risk of physical damage to vessels operating out of Ukraine, underwriters were most anxious about the threat of detainment.