Japanese insurers intend to raise insurance policy costs for ships carrying liquefied natural gas (LNG) in Russian waters by about 80% from this Wednesday, according to a report in Nikkei Business Daily.
Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance Co would probably increase policy costs for damages caused to vessels to more than ¥20m ($154,000), compared with a price this time last year of about ¥12m, the report said on Monday January 23rd.