Analysis-Maritime insurance premiums surge as Iran conflict widensImpact of Gulf Conflict on Maritime Insurance and Global ShippingBy Noor Zainab Hussain and Manya SainiMarch 6 (Reuters) - As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging -- in some cases by more than 1000% -- dramatically driving up the cost of moving energy through a critical maritime corridor. Iran on Monday said it would fire on any ship trying to pass, and at least nine vessels have suffered damage in the area since the conflict began. War Risk Insurance ExplainedWar risk insurance allows ship owners to claim against any damage to their vessel or the cargo resulting from conflict or terrorism. "Additional premiums for vessels transiting high-risk waters are rising sharply and may continue to fluctuate in the short term," he said. Cargo war risk premium rates are also increasing, with quotes being reviewed on a voyage-by-voyage basis, particularly for energy and bulk commodity trades, he said.

Source: Economic Times March 06, 2026 11:12 UTC