As shrinking arctic ice opens up of new shipping routes through Canadas Arctic Archipelago, this presents challenges for risk managers and insurers, Allianz Global Corporate and Specialty suggests in a report scheduled for release Wednesday. “Arctic ice has been thinning and retreating over the past 40 years, bringing new opportunities for shipping, but also serious environmental concerns,” Munich-based AGCS stated in the report, Safety and Shipping Review. A NASA article published last month observes that Arctic sea ice has been declining both during the growing and melting seasons in recent decades.
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