The London-based insurer, Lloyd's of London Ascot, has resumed quoting on its cargo insurance facility for the Black Sea grain corridor following Russia’s announcement that it would resume its participation in the Black Sea Grain Initiative that established a humanitarian maritime corridor to allow ships to export grain and other foodstuffs from Ukraine.
The CFTS portal reported this, citing the Latifundist publication.
"In response to today’s news, the Ascot-led ‘AsOne’ facility is quoting again, effective immediately, and we have already issued quotes this morning," Ascot’s head of cargo Chris McGill told the Reuters news agency.
According to the publication, other insurers also provide cover through the Ascot facility.
On 1 November, Lloyd's of London Ascot said it was suspending the insurance cover for new cargoes using the Black Sea grain corridor. On 2 November, the Russian Ministry of Defense announced Russia was resuming its participation in the Black Sea Grain Initiative.