Rising marine insurance tariffs in Russian waters

Japanese non-life insurers plan to increase by more than 60 percent the marine cargo tariffs for ships carrying liquefied natural gas (LNG) that traverse Russian waters.

The cost of marine insurance covers would increase from 12 million JPY (92 430 USD) to 20 million JPY (154 050 USD).

The companies concerned are Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance.