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Political Risk and Trade Marine Regulation

Viewpoint: War risk carriers on hostile ground, despite rate increases

Underwriters are now scrutinising voyages on a case-by-case basis, with large rises in premium occurring over the past two months. Lead insurers have already requested significant increases to premiums, renegotiated terms of cover and introduced riders to hull and machinery/war risks and cargo covers

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With underwriting criteria more strictly applied and capacity reduced, more carriers are likely to exit the market while others sit tight and watch the political situation in the Strait of Hormuz unfold

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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