(Bloomberg) — Insurance costs for shipping companies may rise between five percent and six percent next year as underwriters prepare for stricter maritime safety regulations, said Aon Corp., the world's second-biggest insurance broker.Underwriters will be "looking for more money in expectation of a tighter regulatory environment" when providing protection and indemnity policies, which cover against "third-party" risks such as oil spills, damage caused during collisions, or crew injuries, Stephen Hawke, London-based executive director of Aon's Marine unit, said yesterday in an interview.

The United Nations and European Union are implementing tougher guidelines on issues such as the discharge of waste oil into the sea and the treatment of injured sailors. The rules bind shippers such as Frontline Ltd., the world's biggest tanker operator by capacity, and Teekay Shipping Corp., the largest by sales.

"Previously a vessel that sank in deep sea would be allowed to rot, but now they're required to be removed and that can be a complex operation" costing more than the loss of the vessel, Hawke said.

Owners take separate policies to protect against damage to vessels, known as hull insurance. An increase in the size of hull-insurance claims, resulting from the use of bigger and more valuable vessels, is unlikely to increase costs as the emergence of more providers keeps premiums stable, Hawke said.