Cargo Ship Insurers Cancel War Risk Policies for Vessels in Persian Gulf and Strait of Hormuz, Expected To Raise Premiums by Up to 50%
Ships in the Persian Gulf – Wiki Commons The ‘war risk’ for cargo ships in the Middle East has escalated considerably. With the ongoing military conflict between the US, Israel and Iran, commercial shipping in the conflict area has become a much more dangerous affair. Now, news has arisen that insurers are telling ship owners that they will cancel policies and raise coverage prices for