Maritime insurers cancel war risk cover in Gulf: Will it spike energy cost?
Al Jazeera
Insurers announced they were cancelling war risk coverage after the IRGC said the Strait of Hormuz was ‘closed’.
Insurance companies are cancelling war risk coverage for vessels in the Middle East Gulf as the widening United States/Israel-Iran conflict disrupts shipping, leaving tankers damaged or stranded and at least two people dead.
The conflict entered its fourth day on Tuesday with US and Israeli attacks continuing on Iran, which has retaliated by attacking US assets and other infrastructure in Gulf countries.
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