Several marine insurers said they are cancelling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers including Gard, Skuld, NorthStandard, the London P&I Club and the American Club said their cancellations will take effect from 5 March.
According to notices dated 1 March on their websites, war risk cover will be excluded in Iranian waters, as well as the Gulf and adjacent waters.
Skuld added in its notice that it was working on a buy-back option to reinstate cover.
Japan's MS&AD Insurance Group told Reuters it had suspended underwriting of a range of insurance policies covering war risks in the waters around Iran and Israel and neighbouring countries.
Tensions in the Middle East have escalated sharply after the U.S. and Israeli forces launched strikes on Iran over the weekend, prompting Tehran to say it had closed navigation through the Strait of Hormuz, a key chokepoint for global oil and gas flows.
Several tanker owners, oil majors and trading houses have since suspended crude, fuel and liquefied natural gas shipments through the narrow waterway, and satellite data has shown vessels accumulating near key United Arab Emirates ports such as Fujairah.
Ship-tracking data on Sunday showed the disruption growing, with at least 150 tankers - including crude and LNG carriers - anchored in open Gulf waters beyond the Strait of Hormuz and dozens more stationary on the other side of the chokepoint.
The risks intensified further after at least three tankers were damaged off the Gulf coast and one seafarer was killed.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of July, covering the latest developments you need to kn...
The United States has bombed Iran for an 11th consecutive night as the Pentagon says the war’s cost reach $37.5 billion. President Donald Trump thr...
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of July, covering the latest developments you need to know.
The United States has bombed Iran for an 11th consecutive night as the Pentagon says the war’s cost reach $37.5 billion. President Donald Trump threatens a heavy strike on the suspected Pickaxe Mountain nuclear site. Tehran warns that any attack could trigger a wider regional escalation.
Moldova's parliament has approved a new government led by Prime Minister Vasile Tofan, who pledged to revive the economy while keeping the country on track for European Union membership.
Ukrainian President Volodymyr Zelenskyy has dismissed Commander-in-Chief Oleksandr Syrskyi, replacing him with General Mykhailo Drapatyi in one of the most significant military leadership changes since Russia's full-scale invasion of Ukraine.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 21st of July, covering the latest developments you need to know.
President Donald Trump said the United States will target Iran’s heavily fortified Pickaxe Mountain site “pretty soon” as he meets with Lebanese president Michel Aoun. Meanwhile, U.S. forces carried out a 10th consecutive night of strikes on Iran while Tehran continues to target Gulf countries.
Overnight U.S. strikes caused blackouts in southwestern Iran and hit the northwestern city of Tabriz for the first time. Separately, a U.S. soldier died in northern Iraq during a controlled detonation of an unexploded Iranian drone.
Azerbaijan has rejected suggestions it played any official role in reported private talks between former German politicians and Russian representatives in Baku, saying the meetings were organised independently.
Police fired tear gas and arrested at least 15 people after clashes broke out near Buenos Aires' Obelisk, where thousands had gathered following Argentina's 1-0 extra-time defeat to Spain in the 2026 World Cup final.
The United Nations High Commissioner for Refugees has expressed its deepest condolences following the confirmed deaths of five Afghans in Nimroz province, while the search continues for 14 others.
Lebanese army troops have begun deploying in the southern town of Zawtar al-Gharbiyeh after Israeli forces withdrew from the area, marking the first major step in a U.S.-brokered plan to reduce tensions along the Lebanon-Israel border.
Azerbaijani President Ilham Aliyev and German President Frank-Walter Steinmeier have discussed regional developments, transport connectivity, energy cooperation and the Azerbaijan-Armenia peace process during talks in Berlin.
Georgian officials have returned from Rotterdam with new ideas for multimodal logistics, but after years of delays, the Anaklia Deepwater Port still faces significant challenges before it becomes a reality.
A family of six, including four children, has been killed after an Israeli airstrike hit their home in Gaza City, underscoring the continuing violence despite a ceasefire that has formally remained in place for more than nine months.
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