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Insurers' Greek Exit Could Push Up Prices for Consumers

The decision by trade insurers this week to stop covering exporters shipping to Greece could have "alarming" consequences, exacerbating shortages and pushing up prices for consumers, the country's retail federation said on Friday.

By Karolina Tagaris, Reuters, Myles Neligan, Reuters | Updated on June 01, 2012

ATHENS/LONDON, (Reuters) – The decision by trade insurers this week to stop covering exporters shipping to Greece could have “alarming” consequences, exacerbating shortages and pushing up prices for consumers, the country’s retail federation said on Friday.

“Insurance companies contribute significantly to the creation of a climate of security and trust in the market,” the ESEE retail lobby said.

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