The insurance giant will work with the U.S. International Development Finance Corp. to help backstop shipping.
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Insurance giant Chubb
will be the lead underwriter for a U.S. government-led program to provide insurance to ships making the risky transit through the Strait of Hormuz.
Chubb will work with the U.S. International Development Finance Corporation as part of a $20 billion plan to help get oil tankers and other commercial traffic moving again amid risks from the Iran war, the agency said.
Oil prices have spiked
Iran has reportedly launched “Hormuz Safe,” a bitcoin-settled maritime insurance platform aimed at cargo owners and shipping…
LONDON: The Lloyd’s of London market is engaging with the US government’s International Development Finance Corporation over a…
Insurers announced they were cancelling war risk coverage after the IRGC said the Strait of Hormuz was 'closed'.
Strait of Hormuz is effectively closed and vessels rerouted, sending some freight costs surging
Many underwriters in maritime insurance won't offer Mideast coverage to shipping vessels linked to the U.S., Israel or U.K. as…
Iran launched the Hormuz Safe platform offering digital maritime insurance with crypto payments for vessels transiting the Strait…
