gCaptain: Marine Insurers Continue to Provide Affordable Insurance to Ships Passing Through Red Sea Despite Houthis

The International Union of Marine Insurance declared at its winter meeting that ships passing through the Red Sea would continue to be insured and that affordable insurance packages would be available to them, despite Houthi efforts to fire on ships affiliated with Israel, the US, and the UK, according to maritime news site gCaptain.

Reuters reports that ships affiliated with Israel, the US, and the UK have nevertheless been forced to pay higher war premiums when sailing through the Red Sea and major companies have instead preferred to circumvent the African continent, instead. Meanwhile, ships affiliated with Iran, Russia, and China are considered safe.