U.S. Plan to Insure Ships Collides with Reality

Wall Street Journal: “This U.S.-centric idea ran counter to the market realities…  Maritime war risks policies are sold mostly out of Lloyd’s of London, with foreign insurers covering foreign ships and cargo.” 

“U.S. officials called London insurers and brokers, trying to figure out how the market operates, industry insiders said. Some have received calls asking for confidential data on the Lloyd’s market that participants have been reluctant to share.”