The vacuum in the market left by the blacklisting of Russia’s Ingosstrakh will be filled by “fly-by-night” operators without the capacity to pay claims after a maritime casualty, the company said Monday.
The insurer said it was actively exploring all avenues to address the “unwarranted and damaging” decision by the US on Friday to include Ingosstrakh among a huge raft of sanctions targets in the final days of the Biden administration.
