Insurance companies are very good at materialist analysis. Their business depends almost entirely on accurately pricing risk of real events (weaseling their way out of paying for claims makes up the balance). If the actuaries are discounting Chinese shipping insurance to this degree, we can safely say that Chinese ships are getting a pass by the Houthis. I wish both the Chinese and Houthis the best in their respective efforts.
this post was submitted on 08 Feb 2024
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