Navium had 100% of war risk on True Confidence
Vessel said to be in ‘hell of a mess’
Marine MGA Navium wrote 100% of the war risk for the bulk carrier hit by a fatal Houthi strike on Wednesday. The Clive Washbourn-led outfit will be on the hook for the hull value, estimated at $17.6m, but could be protected through a ‘sidecar’ arrangement with reinsurer Fidelis