comment: >
  
  The insurance companies get insurance. That insurance runs/ is renewed Jan 1. So it was purchased for the year before the start of the war. With war going on insurance companies can't get insurance so they cancel insurance on these vessels.
context: In a nutshell, insurance companies covering cargo ships operating in the Black Sea no longer have bankruptcy protection if entire ships are lost. >
  
  Bankruptcy protection or just lose the ability to claim the entire ship as a loss? (And have insurance pick up the bill) >
  
  They were insured? How is that possible?