Exporters suffer as Houthi attacks make vessel cover costlier
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Indian exporters are facing challenges as costs surge due to Houthi attacks on shipping in the Red Sea, resulting in a significant rise in cargo insurance premiums. Some products have seen increase as high as 500%, while the average insurance premium is now 60% higher. Reasons for increase is heightened risks in the region, prompting insurers to raise premiums for vessel insurance..
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