Gulf insurance costs soar 12-fold despite Trump guarantee
Shipowners quoted millions of dollars in premium as brokers grapple with risk
Shipowners quoted millions of dollars in premium as brokers grapple with risk

Brokers say cost of cover to increase by as much as 50% after conflict erupts

Data centres, energy projects and hotels move to limit potential losses

Insurance market responds to criticism over cancelled policies and higher prices for stuck ships

Development Finance Corporation to offer coverage in hopes of restarting shipping through Strait of Hormuz

Bankers had been on pace for $1bn in deal fees for the first time in almost 20 years. Now, everything is on ice

US lacks firepower to provide $350bn in coverage needed to revive Strait of Hormuz transits, JPMorgan says