Line of business: War Page 1 / 4
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- August 19 2026
Japan mulls state reinsurance for oil tankers as it braces for protracted Middle East turmoil
Government plans to introduce the new legislation during the autumn extraordinary session of the National Diet.
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- August 14 2026
Strait of Hormuz, Red Sea, Black Sea attacks force war underwriters to get ‘hands-on’ as market fragments
Underwriters are now pricing each voyage in real time - relying on intelligence, not just history, to navigate a fractured market shaped by proxy actors, terrorism, sanctions and cyber threats.
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- August 12 2026
P&I club duo cancel war risk cover across Indian Ocean, Gulf of Aden, Red Sea
Skuld and NorthStandard say vessels trading to, from, through, or within the affected waters will lose their war risk coverage from Sunday, with the cancellation applying to all fixed premium assureds.
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- July 7 2026
‘Substantial insurance support’ pivotal as 20,000 seafarers trapped in worsening Strait of Hormuz crisis
Industry officials stress that repatriating trapped crew requires coordinated war-risk and P&I insurance arrangements, alongside security guarantees, to overcome the stalled evacuation.
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- June 28 2026
Hull war rates more than halve after US-Iran ceasefire: report
Premiums for vessels crossing the Strait of Hormuz more than halved from 5% to 2% of ship value in the past week.
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- June 19 2026
Lloyd’s launches Chubb-backed marine war risk consortium for Strait of Hormuz
It will provide up to US$200m of capacity separately for hull and P&I risks, with an additional US$200m of dedicated cargo capacity.
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- June 18 2026
LMA welcomes US-Iran deal, but warns of ‘long, complicated’ shipping recovery, as insurer urges caution
Lloyd’s Market Association (LMA) says certain practical steps are required, while Charlie Zheng, co-head of marine for greater China at Markel, says the threat environment will take time to normalise.
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- June 17 2026
Underwriters far from returning to pre-war war risk pricing even as US-Iran deal looms, brokers say
Marine war rates are likely to remain around 1% for the next week or so, with a possible drop to the 0.8%–0.6% range in the subsequent week should there be genuine and sustained signs of de-escalation.
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- May 29 2026
Opinion: ‘No war, no problem’: Asia losing patience with marine market over Strait of Hormuz war cover
South Korea’s intervention of low-rate war-risk marine insurance highlights the reality of high premiums as the conflict between the US and Iran heads into a third month.
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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 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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- 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 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 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
Cleared for takeoff: war rates remain stable as airlines seek new routes
A month into the Iran conflict, the US has also doubled its commitment to provide reinsurance guarantees to ships willing to travel through the Strait of Hormuz to US$40bn.
