marine insurance

Insurers pull Red Sea war cover for Saudi-linked ships

Yemen's Houthi movement has thrown global shipping into disarray after declaring a naval blockade against Saudi Arabia and attacking two Saudi oil tankers, prompting marine insurers to restrict war-risk coverage and sending oil prices above $100 a barrel.

Lloyd’s voids hull cover for ships paying Iran’s Hormuz toll

The global shipping industry is facing an insurance crisis across two of its most vital chokepoints simultaneously, as war-risk premiums for tankers transiting the Strait of Hormuz have surged to levels that threaten to choke off remaining oil trade from…

Lloyd’s, Chubb launch $400M war risk facility for Hormuz shipping

Lloyd's of London and Chubb have launched a new marine war risk insurance consortium aimed at providing up to $400 million in capacity for vessels and cargo transiting the Strait of Hormuz, as the London market moves to rebuild coverage…