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Removal of War Risk Insurance brings more benefit to Sri Lanka

Jul 16, 2010 4:11:54 AM - itnnews.lk

Economic analysts say that removal of Sri Lanka from the Cargo War Insurance List will provide a number of benefits.

The Joint Cargo Committee recently decided to remove Sri Lanka from a high risk level of 2.6 on marine war risk, and marine strikes risk due to the peaceful environment prevailing in the country. This would boost post war economic revival by increasing business confidence. It would also cause reduction of the cost of imports, removal of insurance surcharge, and induce more shipping lines to call over at the Ports.