Vessels have been hit in the Black Sea near the Bulgarian coast
Following recent attacks on merchant ships in the Black Sea, demand for war risk insurance covering Ukrainian ports has increased significantly. Cargo owners and operators are seeking to mitigate financial exposure amidst the heightened threat in the region. This was reported by LinkedIn, according to the portal PromPolitInform.
During the night of 12–13 October 2026, another attack involving unmanned systems occurred within Bulgaria’s exclusive economic zone. The incident resulted in the sinking of the vessel HS DIGNITY, which operated under the flag of Guinea-Bissau, as officially confirmed by Bulgarian authorities. The ship sustained damage approximately 15 nautical miles east of Krapets.
A second vessel, Chelsea 3, was struck near the coast of Byala. The crew was successfully rescued, with 15 sailors pulled from the water. These developments have directly affected the insurance market’s approach to operations in the region.
Changes to cargo insurance conditions
In response to the escalation, there has been a marked rise in inquiries for War Risk Insurance (EWRI) policies. This trend encompasses not only major Black Sea ports but also Danube infrastructure, specifically navigation through the Bystre and Sulina channels.
Industry experts note that despite elevated risks, market competition for insurance premiums remains active. Underwriters continue to process coverage requests, accounting for the specific challenges of operating in high-risk zones, including the Red Sea and the Strait of Hormuz.
Illustrative photo: Hirho / CC BY-SA 4.0
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