INTEnergy Newsoilprice:oilprice-article-44705ActualitésIn force

Insurers Roll Out $400 Million War-Risk Facility for Hormuz Shipping

Lloyd's of London has established a $400 million war-risk insurance facility for vessels and cargo transiting the Strait of Hormuz, with Chubb as lead underwriter. The consortium aims to increase marine insurance capacity in the strategically sensitive shipping corridor.

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The world’s largest insurance marketplace is set to break the Strait of Hormuz logjam with a new $400m (£316m) war-risk facility. Lloyd’s of London has launched a new market consortium designed to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz. Insurer Chubb will serve as lead underwriter, supported by participating Lloyd’s syndicates and specialist market partners, to bring together underwriting expertise with additional Lloyd’s market capacity to “support…

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https://oilprice.com/Energy/Energy-General/Insurers-Roll-Out-400-Million-War-Risk-Facility-for-Hormuz-Shipping.html

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