The actuarial pen is mightier than the sword
It is day 18 of the largest shipping disruption since WWII. I am looking at the dashboard www.hormuztracker.com: ~3,200 ships (4% global tonnage) idle in Gulf region and ~100 container ships (10% of global fleet) affected. “Probable cancellation and withholding of insurance cover in the face of calamity – doesn’t that contradict the spirit of…