Gallagher predicts there will be no let-up in the increase in hull and machinery insurance premiums this year partly due to the impact of coronavirus on insurers.
The prospect of paying even more for hull insurance will frustrate shipowners, who have only just gone through an inflationary round of protection and indemnity insurance renewals.
Commenting in its Hull and Machinery and War Risks Market Report, Gallagher said shipowners had already faced double-digit increases in hull and machinery last year and there would be further rises this...
