I will never understand how cancelling an insurance policy the moment the event it insures against happens is legal.
Natural_Economist129 on
No way this is legal jaja
CryptoBoy-007 on
I’m not surprised, ships are blowing up .
Voenker on
Shipping stocks 📈⬆️
ChampionshipUsed308 on
I mean, if you know there’s a flood and you intentionally drive your car into the water because insurance will cover your policy is morally correct? Ain’t like a country at war is telling these ships that they are going to be attacked if they try to cross it. At the end of the day there’s people on those ships.
MSPCSchertzer on
This was obviously going to happen. Starting a war against a country with one of the largest stocks of missiles and drones in the world, which happens to be near 1/4 of the worlds oil production, was not a wise move. These ships will now be moored for the forseeable future, and oil and lng will go up right as the summer blend starts to get rolled out. [Insert whatever wsb themed joke you want here.]
RizzlerNerden on
“I’m standing in front of a burning house and offering you fire insurance on it”
Good times, didn’t last long enough ugh
elbarto3001 on
After reading this somewhere a UHC executive is enginnering about how to cancel breast cancer coverage inmediately after your mammogram shows something suspicious. 😉
TheEconomicus on
Since I actually work in this stuff — yes, policies sold to large international marine shipping concerns are different from auto/home/health you can buy in the US.
Your ships in transit are covered. No one is selling you a policy that says “effective January 1, I get everything covered that I send through the Strait of Hormuz for an entire year, no matter what.”
9 Comments
I will never understand how cancelling an insurance policy the moment the event it insures against happens is legal.
No way this is legal jaja
I’m not surprised, ships are blowing up .
Shipping stocks 📈⬆️
I mean, if you know there’s a flood and you intentionally drive your car into the water because insurance will cover your policy is morally correct? Ain’t like a country at war is telling these ships that they are going to be attacked if they try to cross it. At the end of the day there’s people on those ships.
This was obviously going to happen. Starting a war against a country with one of the largest stocks of missiles and drones in the world, which happens to be near 1/4 of the worlds oil production, was not a wise move. These ships will now be moored for the forseeable future, and oil and lng will go up right as the summer blend starts to get rolled out. [Insert whatever wsb themed joke you want here.]
“I’m standing in front of a burning house and offering you fire insurance on it”
Good times, didn’t last long enough ugh
After reading this somewhere a UHC executive is enginnering about how to cancel breast cancer coverage inmediately after your mammogram shows something suspicious. 😉
Since I actually work in this stuff — yes, policies sold to large international marine shipping concerns are different from auto/home/health you can buy in the US.
Your ships in transit are covered. No one is selling you a policy that says “effective January 1, I get everything covered that I send through the Strait of Hormuz for an entire year, no matter what.”