Major Maritime Insurers Cancel War Risk Coverage for Persian Gulf Fleet Operations
War risk premiums explode from 0.2% to 1.0% of vessel value. Major insurers cancel Persian Gulf coverage entirely.
War Risk Insurance Market Collapses
The international maritime insurance industry announced on March 3, 2026, that war risk coverage for vessels transiting the Strait of Hormuz is being cancelled immediately across all major insurers. Leading syndicates including Lloyd's of London, AIG Specialty Insurance, and Allianz Global have withdrawn all active pol…
