Three months after the car carrier Galaxy Leader was hijacked in the Red Sea, attacks on merchantshipping in the region have continued. Freight and insurance costs have risen with diversions aroundthe Cape of Good Hope, adding another three weeks to voyages. Munro Anderson, head ofoperations at marine conflict risk insurer Vessel Protect, joins Argus' crude freight reporter MatthewMitchell to discuss the risks faced now by shipowners and charterers. Key topics covered in the podcast: How marine conflict risk insurance worksWhat conflict risk insurers consider and how quickly they can respond to eventsThe situation now in the Red Sea and how it has developedThe effectiveness of US, UK and coalition actions in the Red Sea and Gulf of Aden in reducing the risksConflict risk insurers' approach to sanctionsThe conflict risk situation in the Black Sea nowThe outlook for marine conflict risk insurance