Howden, a UK-based insurance broker, has launched a new cargo war risk facility to safeguard vessels from drone and missile attacks by Yemeni rebels in the Red Sea region.
This unique insurance coverage protects up to US$50 million per insured vessel, with the maximum limit reaching US$150 million.
It is the first specific insurance solution designed to protect cargo vessels sailing through an active combat zone, including the Red Sea, Bab al Mandab Strait, and the Indian...