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Damaged ships in Ukrainian ports may lead to more maritime insurance claims

It may become expensive for insurance companies that ships in Ukrainian ports are damaged or cannot leave. In general, the Ukraine war is the cause of a number of challenges in shipping, reads a new report.

Sign warning against mines in Odesa. The insurance business can expect several claims because mines have damaged or ruined ships. | Photo: Stringer/Reuters/Ritzau Scanpix

The war in Ukraine will lead to a number of compensation claims for the maritime insurance industry due to damaged or ruined ships, forecasts insurance company Allianz Global Corporate & Specialty (AGCS) in its yearly report on safety and shipping.

Since the Russian invasion of its neighbouring country at end of February, two seafarers have been killed and two merchant vessels have sunk, while an additional four ships have been hit by shots.

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