Geopolitical

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.

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.

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Data centres, supply-chain shifts drive APAC demand for multinational insurance programmes

June 30 2026

As demand for multinational programmes grows, insurers say compliance and execution will define programme success.

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.

Aerial view of a busy shipyard with several large cargo ships in dry docks, cranes towering above, and turquoise water surrounding the docks.

Geopolitics reshapes maritime risk as shipping enters ‘new equilibrium’ – Allianz

June 24 2026

Geopolitical disruption is increasing volatility in marine risk, despite a year-on-year decline in shipping incident

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.

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.

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APRA tells insurers to strengthen readiness for geopolitical shocks

June 18 2026

Larger exposed entities will be asked to assess gaps in crisis preparedness, personnel risk and political risk.

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