NiMASA’S CAMPAIGN TO END WAR RISK INSURANCE PREMIUM WILL SAVE NIGERIA OVER $400 BILLION ANNUALLY
NiMASA’S CAMPAIGN TO END WAR RISK INSURANCE PREMIUM WILL SAVE NIGERIA OVER $400 BILLION ANNUALLY
By Babatunde Aremu
War risk insurance (WRI) is an additional surcharge imposed by international shipping companies on cargo bound for Nigeria. It comprises two key components: war risk liability, which covers people and goods aboard the vessel and is calculated based on the indemnity amount, and war risk hull, which covers the vessel itself and is determined by its value.… More...