IUMI: Maersk Honam will be largest general average loss on record: Insured losses will run to hundreds of millions

IUMI: Maersk Honam will be largest general average loss on record: Insured losses will run to hundreds of millions
9 April 2018

Insured losses will run to hundreds of millions

Insured losses as a result of the blaze on board the Maersk Honam, which caught fire on 6 March, will run into the hundreds of millions, according to the British International Freight Association.

The incident is also expected to generate the largest ever general average loss, according to the International Union of Marine Insurance, after Maersk declared general average on 9 March and appointed Liverpool-based average adjuster Richards Hogg Lindley.

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