The Fitch warned that the closure of the Suez Canal would be a significant loss of global reinsurance companies and expected the closure of the channel's profits, but would not much affect its credit conditions.
According to Arab Net, Fitch has added maritime reinsurance prices will increase more as a result of the Ever Jeffen Container Snacks in the Suez Canal.
In an interview with Arab, Deputy Chairman and Managing Director of Oleans Insurance - Egypt, said that the Suez Canal is a vital artery for Egypt and the trader of difficult currencies. The channel revenue in 2020 contributed $ 5.6 billion in the public treasury budget, Is about 4%.
It is of great importance to global trade, with the channel in 2019, 12% of world trade.
Who pays compensation?
<< Mehran speculates the types of compensation that will have the limitation of the losses due to the closure of the channel, after the giant ship Ever Given before nearly a week and disrupted the navigation in this vital trading artery .
He explained that there is compensation for the ship, which information was safe in Japan and the value of insurance is between $ 100 and $ 140 million, the insurance company will be paid by the ship's owners or the organization.
The presence of compensation on the identification of responsibilities and any harm may be caused by buildings in the port or the channel. / p>
On the other hand, the stalled vessels may prompt for days on the ductility to compensate for losses.
Deputy Chairman and Managing Director of Lianz Insurance - Egypt, pointed out that compensation is carried out by a contract with the British Protection and Compensation Club, which announced that the insured for the ship.
