Political Violence

Aerial view of a large black-and-red oil tanker sailing through calm blue sea with a yellow smokestack and white superstructure at the stern.

Japan weighs state reinsurance for Gulf tankers to safeguard oil imports — report

August 17 2026

The proposed measure would cover claims if insurers cannot secure overseas reinsurance.

Large black-and-red bulk carrier being guided by a small tugboat at a port, with cranes in the distance and calm turquoise water.

Skuld withdraws war risk cover across parts of Red Sea, Gulf of Aden and Indian Ocean

August 13 2026

The cancellation, effective from August 16, affects fixed-premium assureds with affected war risk cover.

The cargo ship Mayuree Naree from Bangkok with smoke rising from the engine room.

Precious Shipping receives US$10.98m war risk payout for Thai-flagged Mayuree Naree

August 11 2026

The vessel remains grounded off Iran, with war insurers exploring an as-is, where-is sale.

Red and black tugboat with equipment on deck sails in calm sea, a distant pier visible on the horizon.

Lloyd's Market Association moves to end cover for ships paying Iran's Hormuz transit toll

July 24 2026

New model wording excludes cover for transit-related payments and ends cover for the vessel where such a payment breaches sanctions or terrorism law.

Large cargo ship navigating the Strait of Hormuz with containers onboard.

Hormuz war-risk rates climb again after brief easing in June

July 15 2026

Renewed strikes on vessels have lifted Hormuz war-risk rates to around 2% to 4% of hull value, though they remain below March's highs.

no-policies-written-under-us-hormuz-insurance-facility-since-march-launch-report

IUMI sees path to Hormuz stability after Iran-US deal

June 25 2026

IUMI emphasised the importance of ensuring safe and orderly vessel movements as shipping routes stabilise.

Cargo ship with four gantry cranes on a calm blue sea under a clear sky

Chubb-led consortium launches in Lloyd's market with US$400m for Hormuz war risk

June 19 2026

The facility offers up to US$200m each for hull and P&I risks, alongside US$200m of dedicated cargo cover, as the market responds to the planned phased reopening of the waterway.

ARPC appoints Cameron Hick as chief underwriting officer

June 19 2026

He will succeed current CUO Michael Pennell, who is set to retire in November.

Large cargo tanker sailing on calm sea with a distant industrial shoreline on the horizon

Lloyd’s Market Association warns Hormuz shipping recovery hinges on greater clarity

June 18 2026

LMA outlined operational, regulatory and safety hurdles that must be addressed before vessels can safely return to Hormuz transit.

Large cargo ship with blue upper hull and red bottom balanced on a thick rope, flags of Iran and the United States at each end, conveying geopolitical tension.

Some insurers ease Hormuz rates on US-Iran deal hopes, but pre-war pricing hinges on stability

June 17 2026

Early cuts of up to 40% have surfaced, though pricing stays patchy and a history of broken ceasefires leaves many insurers reluctant to move fast.

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