Insurance companies on hook for millions tied to Suez Canal crisis

Two tugboats speed to the canal, dredgers have shifted 27,000 cubic metres of sand

There were potentially thousands of insurance policies taken out on the steel boxes stacked high on the massive boat blocking the Suez Canal and upending world trade. They could result in millions of dollars in payouts — but first, a game of passing the buck.
 
Taiwan’s Evergreen Line, which chartered the Ever Given, says Japan’s Shoei Kisen Kaisha — the ship’s owner — is responsible for any losses. The shipowner has taken some responsibility but says charterers need to deal with the cargo owners. The Suez Canal’s own policies suggest it’s not to blame, even if its pilots were