War Risk Insurance

Opinion

NIMASA crusade against War Risk Insurance will save Nigeria $400bn annually

By Osagie Edward War Risk Insurance (WRI) premium is an additional surcharge imposed by international shipping companies on cargo bound for Nigerian ports. It comprises two key components: war risk liability, which covers people and goods aboard the vessel and…

NewsDirect
March 21, 2025

Business

Piracy decline to end War Risk Insurance, reduce shipping cost — NIMASA

The Nigerian Maritime Administration and Safety Agency (NIMASA), says sustained reduction in reported cases of maritime crimes in Nigerian waters, will end regime of War Risk Insurance premium on Nigeria-bound cargoes. The Director General of NIMASA, Dr Bashir Jamoh, made…

NewsDirect
August 30, 2021