Line of business: Marine Page 1 / 29
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- May 22 2026
South Korea to offer US$200m war-risk cover for small shippers in Strait of Hormuz
Financial Services Commission will also explore the creation of a reinsurance program to extend coverage to larger vessels with significant economic impact.
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- May 17 2026
Donald Trump’s US$40bn Hormuz insurance scheme non-starter due to lack of US naval escorts: report
Scheme failed to launch because it did not meet required conditions and depended on a US naval escort that has not materialised, the Financial Times reported.
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- May 15 2026
‘Extremely unpredictable’: Marsh, Aon warn of critical risk, tighter terms for Strait of Hormuz transits
Escalating clashes in the key waterway have forced insurers to radically reduce deployment and recalibrate pricing in near real-time, industry insiders say.
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- May 13 2026
India launches US$1.5bn maritime insurance pool, issues first war risk policies
GIC-administered Bharat Maritime Insurance Pool provides H&M, cargo, P&I, and war-risk cover for Indian-flagged or controlled vessels and voyages to or from India.
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- May 10 2026
Logistics giant DP World launches cargo war risk coverage for Middle East trade
End-to-end solution, backed by A-rated insurers, offers protection at a 'significantly more competitive' pricing than standard war risk premiums, the company said.
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- May 4 2026
US Navy escorts, securing terms key to insuring Strait of Hormuz transits: Berkshire’s Ajit Jain
US President Donald Trump says the US will launch an effort on Monday to 'guide' stranded vessels through the key waterway.
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- April 28 2026
Baltimore bridge loss reserve hits US$2.8bn, topping Costa Concordia; Q2 marine reserving at risk
US State of Maryland settles with MV Dali's owner and operator but not shipbuilder Hyundai, as the bridge collapse loss estimate rises to the largest marine insured loss ever.
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- April 28 2026
Zurich hires Axa XL’s Marcus Seow as senior marine underwriter
He spent nearly 14 years at Axa XL as senior underwriter for marine cargo.
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- April 22 2026
General average declared after Singapore containership fire
UK-flagged Ever Lenient, which is owned and operated by Taiwan's Evergreen Marine Corporation, caught fire while docked at the Port of Singapore on April 10.
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- April 21 2026
Hong Kong marine war risk pool seeks local capacity retention to wean off overseas markets, secure hub status
Alliance Risk Transfer's Charles Chow and Yan Jun tell InsuranceAsia News the Hong Kong marine war risk pool aims to keep premiums local, cut reliance on London, and secure global hub status.
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- April 20 2026
India expands list of Russian P&I insurers: report
Gazprom Insurance, Rosgosstrakh Insurance, and Balance Insurance have been added to the list of Russian marine insurers permitted to offer coverage for ships calling at India's ports.
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- April 19 2026
India approves marine insurance pool with US$1.4bn sovereign backing
Bharat Maritime Insurance Pool will provide H&M, cargo, P&I, and war-risk cover for Indian-flagged or controlled vessels and voyages to or from India.
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- April 17 2026
Scope of war risk cover must be considered as claims expand beyond high-risk zones: London P&I Club
Senior underwriter Ben McKeith says not enough owners are considering long-term war risk cover plans as part of their management strategy, as claims have increased in non-high risk zones, such as the Mediterranean and Black Sea.
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- April 16 2026
Geopolitics, cyber threats, climate perils test Asian marine insurers: QBE
Marine insurers in Asia face rising risks from extreme weather, cyber threats, geopolitical tensions, and manpower shortages, according to a new QBE report.
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- April 16 2026
Cyber risks more than an IT issue for marine insurers, even as Strait of Hormuz rates remain ‘prohibitive’
Cyber risks have evolved from an IT issue into a physical threat for marine insurers, yet remain caught in a coverage gap as Strait of Hormuz rates stay 'prohibitive', Lockton's regional marine heads Sung Wook Han and Derek Shum tell InsuranceAsia News.
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- April 14 2026
Korean Re weighs coverage for shippers rerouting around war-hit Strait of Hormuz
Some shippers are reportedly planning to send follow-up ships to offload cargo from vessels and then carry it via alternative routes.
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- April 13 2026
India firms up plans for GIC Re-led US$100m marine war risk pool
Bharat Marine Pool will be led by state-owned reinsurer GIC Re and New India Assurance.
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- April 10 2026
Insurers face complex, fast-moving risk landscape as fragile ceasefire throws Strait of Hormuz into turmoil
Iran says vessels that attempt to transit the key waterway without permission 'will be destroyed' despite the US announcing a two-week ceasefire.
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- April 9 2026
Strait back to business? Ceasefire positive signal, but brokers expect gradual process for Hormuz rates, traffic
US President Donald Trump announces a two-week ceasefire between the US and Iran, if shipping is allowed to move through the crucial Strait of Hormuz, although brokers remain sceptical.
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- April 8 2026
India eyes US$1.8bn sovereign guarantees to back Persian Gulf vessel insurance
Plan would reduce dependence on overseas reinsurance.
