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Why war risk surcharges in GoG may persist despite Deep Blue Why war risk surcharges in GoG may persist despite Deep Blue
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The deployment of the Deep Blue asset seems to have restored some degree of sanity in Nigerian waters and to some extent, the Gulf of Guinea (GoG) in terms of security. However, the body language of international insurance underwriters indicates that Nigeria might have to wait a little longer to see an end to war risk surcharges on inbound cargoes, writes
TOLA ADENUBI.
War risk surcharge
This is a supplementary carrier charge that is only applied when insurance underwriters designate specific zones as war risks. It covers more than actual wars (invasion, insurrection) including international events that may be escalating toward war, and areas where hijacking (piracy) is prevalent. The surcharge is levied to recover potential extra costs, such as re-routing or additional security. It generally has two components: War Risk Liability, which covers peopl
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“FROM my observatory’’ is not a headline what I can claim to be original to me. I am taking liberties to borrow it from one of my mentors the one and only Allah-De of blessed memory. He used the phrase not infrequently, if you see what I mean.
Restructuring is a bye-word in our everyday political discourse. It features in conversations on the economy. Many are wont to say: How I wished we are free from the suffocating cage that is the unitary form of our government so the creative energies of Nigerians can be released for the good of all. Restructuring is a word buzzing in our ears. Before I come to the subject of restructuring, I want to state that I can sense some signals from the Presidency that we are about to be witnessing a change of approach in crisis management.
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