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Marine insurance companies are considering canceling, repricing policies in the Middle East
RIYADH: Marine insurance companies are considering canceling or repricing policies in the Middle East, according to the Financial Times This comes after the US and Israeli strikes on targets inside Iran, followed by missile attacks and retaliatory military actions in several countries in the region. Marine brokers expect insurance premiums for ships to rise by up to 50 percent, given the region’s classification as a “war zone.” Ship owners are considering rerouting their vessels to avoid the Strait of Hormuz and reduce risks to crews and cargo.
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arabnews.com
Marine insurance companies are considering canceling, repricing policies in the Middle East
RIYADH: Marine insurance companies are considering canceling or repricing policies in the Middle East, according to the Financial Times This comes after the US and Israeli strikes…
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theguardian.com
Maritime insurers cancel war risk cover in Gulf as Iran conflict disrupts shipping
Strait of Hormuz is effectively closed and vessels rerouted, sending some freight costs surging
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aljazeera.com
Maritime insurers cancel war risk cover in Gulf: Will it spike energy cost?
Insurers announced they were cancelling war risk coverage after the IRGC said the Strait of Hormuz was 'closed'.