Marine insurer Gard will maintain crew cover to support seafarer welfare in the Red Sea region after backing was pulled by its reinsurers.
As earlier reported, the reinsurance market has introduced exclusion clauses for the Red Sea, Gulf of Aden and Indian Ocean following a major escalation in tensions.
The decision has forced protection and indemnity clubs to withdraw cover for their non-mutual fixed premium lines with war risk extensions in the region, which has seen repeated attacks on shipping.
