Russian-Ukrainian conflict: impact on the marine and aviation sectors

Broker Miller has published a report on the impact of the Russian-Ukrainian conflict on the marine and aviation sectors.

The 400 million USD marine losses seem insignificant compared to the aviation losses, where more than 400 aircraft worth 10 billion USD have been confiscated by Russia.

Nevertheless, the marine insurance market is likely to be affected once again by the conflict, following Russia's refusal to extend the agreement allowing the safe export of Ukrainian grains across the Black Sea.

As a result of this decision, insurers may suspend coverage for shipments to the grain corridor, or increase rates.