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A comment on "95% of container ships are now going around the Southern Tip of Africa". Parent comment

Re:"95% of container ships are now going around the Southern... by margalabargala on Monday January 08, 2024 @06:30PM (#38920014)
On the contrary, the outlandish claim seems to be that anything could be impossible to insure.

Insure profitably? Sure. At some point, the cost of the premium exceeds the cost of the thing being insured, making it pointless to insure.

Some people describe this scenario as something being "impossible to insure", but it's not meant in the literal sense. In fact I would argue that there is no insurance company that would decline to insure a $100 million cargo through a combat zone, if the premium offered was $150 million.

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Re:"95% of container ships are now going around the Southern... by pi-e-sigma on Monday January 08, 2024 @06:31PM (#38920023)
So no actual source?
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Re:"95% of container ships are now going around the Southern... by bmicraft on Monday January 08, 2024 @07:24PM (#38920590)
The article from flexport states that insurance rates through there are 3.5x of what they were in the beginning of december
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Re:"95% of container ships are now going around the Southern... by margalabargala on Monday January 08, 2024 @11:18PM (#38922248)
Do you have a source for your extraordinary claim that such insurance cannot be bought? Surely such a divergence from the status quo would be written somewhere more official than a social media comment.
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