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New Condition from Ship Insurers: Coordination with Iran Is the Key to Insurance in the Strait of Hormuz (iuvmpress.co)

posted 60 days ago by Wellifthisaintdandy 60 days ago by Wellifthisaintdandy +20 / -0

IUVM Press | New Condition from Ship Insurers: Coordination with Iran Is the Key to Insurance in the Strait of Hormuz

Marine insurance companies, influenced by recent tensions in the Persian Gulf, have introduced a new condition for ship owners: to safely transit the Strait of Hormuz and benefit from insurance coverage, they must coordinate in advance with Iranian authori...

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– Archon69 2 points 60 days ago +2 / -0

This will be for ships that take their insurance from Lloyds.

Remember, Trump's agency will be in direct competition with Lloyd's:

President Donald Trump announced that the U.S. would provide political risk insurance at a "very reasonable price" for ships traveling through the Strait of Hormuz, aiming to ensure the free flow of energy amid heightened tensions with Iran. The insurance is being offered through the U.S. International Development Finance Corporation (DFC), with a $20 billion reinsurance program launched to support maritime trade in the Persian Gulf.

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