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.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including thr...
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the&nb...
Up to 30 tonnes of food will be delivered to Iran amidst ongoing hostilities with U.S. and Israel, following a phone converstation between the ...
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israe...
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientif...
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the “most intense day" of attacks so far. Meanwhile, Iranian President Masoud Pezeshkian said “anyone who entertains the illusion of destroying Iran knows nothing of history."
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israel. Tehran has threatened to block the strategic waterway, raising fears of disruption to global oil shipments and energy markets.
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientific data, national hydrometeorological services in Kazakhstan, Uzbekistan and Kyrgyzstan say, adding there is no threat to the region.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the “most intense day" of attacks so far. Meanwhile, Iranian President Masoud Pezeshkian said “anyone who entertains the illusion of destroying Iran knows nothing of history."
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israel. Tehran has threatened to block the strategic waterway, raising fears of disruption to global oil shipments and energy markets.
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientific data, national hydrometeorological services in Kazakhstan, Uzbekistan and Kyrgyzstan say, adding there is no threat to the region.
A senior delegation from the OSCE Parliamentary Assembly has been holding meetings with Georgian government officials, opposition leaders and security authorities this week, as international observers attempt to gauge the country’s political climate following last year’s contentious elections.
Turkish President Recep Tayyip Erdoğan has told Masoud Pezeshkian, his Iranian counterpart, that violations of Turkish airspace by Iran could not be justified “for any reason whatsoever.”
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment