Major insurers CANCEL coverage for vessels crossing Strait of Hormuz, sparking global shipping crisis

Major insurers CANCEL coverage for vessels crossing Strait of Hormuz, sparking global shipping crisis

Major insurers including Gard and London P&I Club canceled war risk coverage for vessels in the Strait of Hormuz following Iranian retaliatory strikes, effective March 5. This threatens to halt 20% of global oil trade and trigger an energy price crisis. The I…

  • Major insurers including Gard and London P&I Club canceled war risk coverage for vessels in the Strait of Hormuz following Iranian retaliatory strikes, effective March 5. This threatens t… [+5027 chars]