Insurance broker Miller has unveiled a marine insurance facility for Ukrainian grain exports, backed by the government in Kyiv.
Ukraine has been using a new corridor heading south which hugs close to its shoreline from three Black Sea ports to shift its grain exports in the wake of Russia deciding to walk away from a United Nations-brokered grain shipping pact in July.
London-headquartered Miller said it had teamed up with British maritime technology company Clearwater Dynamics (CWD) to develop a war risks insurance facility covering both cargo and hull insurance for grains shipments via three ports – Chornomorsk, Odesa and Pivdennyi.
Another insurer Marsh has also been developing its own Ukraine grain shipping insurance, details of which are expected to be revealed soon.
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