comment: >
  
  More likely, western countries will just reject these ships from coming in to port because they don't trust the insuring entity.  That is why Russia couldn't just react to the insurance ban by creating their own insurance company.
context: Tokio Marine & Nichido Fire Insurance Co [RIC:RIC:MILEAA.UL], Sompo Japan Insurance Inc [RIC:RIC:SJII.UL] and Mitsui Sumitomo Insurance Co [RIC:RIC:MITSID.UL] started notifying shipowners about their decision on Friday, the business daily reported.
  
  ...
  
  The insurers' decision was prompted by reinsurance companies refusing to take on risks related to the war that Moscow launched 10 months ago, the newspaper said.
  The halt, applying even to waters in Russia's Far East, far from the fighting, could make shipping there too risky for some companies, it said. >
  
  this is what all western companies should do >
  
  They did back in June apparently. The article also say India has been insuring many of their ships in stead of EU and UK firms which apparently handle 95% of maritime shipping insurance. We may be finding out how solvent Indian insurance firms are >
  
  Yep, everything is good until one big disaster happens.