Market participants flag that DIFC facility may lead to potential withdrawal of private insurers, while operational risks could continue to restrict vessel movements in the Strait of Hormuz.
Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.
