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Opinion

Ever Given saga reveals the beauty of risk-spreading

Techniques developed in 17th century serve as linchpins of modern global economy

| Japan
Tug boats and diggers work to free the Ever Given on Mar 28, which was lodged across the Suez Canal on Mar. 23: the container ship is covered by a protection and indemnity policy.   © Suez Canal Authority/AP

Stephen Givens is a corporate lawyer based in Tokyo.

The process of resolving multiple legal claims from the grounding of the Ever Given reminds us of the complexity and ingenuity of risk spreading techniques, first developed over 400 years ago, without which the global economy would grind to a halt.

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