Think of oil-related marine insurance claims and your mind might be drawn to the grounding of the Exxon Valdez off Alaska in 1989. But these big disasters make up a tiny proportion of claims in the shipping industry. Most are much smaller and generally go unnoticed outside the companies involved. (Credit: VanderWolf Images/Shutterstock.com)
(Bloomberg Opinion) — Three weeks from now, it's going to get a lot more difficult to get compensation for any damage caused by tankers carrying Russian crude.
Europe and the U.K. are large providers of marine insurance, as well as brokerage, finance, vessel classification and other services that make possible the movement of oil around the world. They are also home to many of the vessels that ply the trade. Greek companies are the world's top tanker owners.
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