Lloyd's added 5 Gulf states to War Risk Listed Areas on 3 March — first five-state expansion in a single JWC circular.
Hormuz transit premiums: 0.25% → peak 2.5%/week → ~1% settled. US/UK/Israeli flag tonnage pays 3x.
Full piece with Lloyd's, S&P, Marsh, IUMI, BIMCO citations:
https://theboard.world/articles/markets/war-risk-insurance-middle-east-shipping/
South Korean insurers face 1.7 trillion won ($1.4 billion) in marine insurance exposure from the Strait of Hormuz blockade, with Samsung Fire & Marine holding the largest position at 427.2 billion won as war insurance premium rates surge from 0.25% to 3% amid escalating Middle East conflict.
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The collapse of the Francis Scott Key Bridge in Baltimore is set to make history with unprecedented marine insurance claims. How can this catastrophe reshape the industry's future strategies?
Read: https://supplychain360.io/francis-scott-key-bridge-collapse-marine-insurance-loss/
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