10 Hrs
Source:
الاقتصادية
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Saudi Marine Insurance Vessel Safeguards Trade During Crises
The article highlights the importance of establishing the Saudi Maritime Insurance Pool as a strategic mechanism to protect trade movements and supply chains amidst escalating geopolitical risks. These risks lead to rising insurance premiums and reduced coverage, which could disrupt vessel crossing and threaten the continuity of trade. This pool aims to support the local market, maintain insurance availability during periods of increased regional risk, reduce reliance on external insurance providers, and enhance economic resilience. It seeks to provide comprehensive coverage for ships, cargo, and liabilities, ultimately promoting Saudi Arabia’s competitiveness as a global logistics hub in line with Vision 2030.
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