Hackers accessed VL Prosperity oil supertanker propulsion system near Texas
Hackers accessed the propulsion system of oil supertanker VL Prosperity near Texas, prompting an FBI and US Coast Guard cybersecurity investigation
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Offshore energy insurance premiums hit $4.8 bn as margins tighten
Global offshore energy insurance premiums reached $4.8 bn in 2025 as excess capacity, rising attritional claims and renewables pressure margins
Saudi Arabia approved war-risk insurance pool for cargo and vessels
Saudi Arabia approved a national marine war-risk insurance pool led by Saudi Re to protect cargo, vessels and trade during geopolitical disruption
Hormuz disruption threatens SMEs in global supply chains, UNCTAD says
UNCTAD warns Strait of Hormuz disruptions are raising energy, freight, insurance and financing costs, putting smaller businesses under pressure
Saudi Arabia weighs state-backed war-risk insurance pool for ships
Saudi Arabia has discussed a state-backed marine war-risk insurance pool with London brokers as Iran and Houthi threats raise regional costs
Gulf, Red Sea shipping insurance costs surge as war-risks rise
War-risk premiums climb for ships in the Persian Gulf and Red Sea as insurer appetite tightens and regional attacks reshape voyage costs.
US sells two seized Russia-linked shadow fleet tankers for scrap
The US sold the Era and Lileo, two Russia-linked oil tankers seized during its Venezuela blockade, while scrutiny grows over enforcement against shadow-fleet shipping
Lloyd’s backs new Hormuz marine war risk insurance consortium
Lloyd’s welcomes a Chubb-led marine war risk consortium offering extra hull, P&I and cargo capacity for Strait of Hormuz transit risks
Lloyd’s List Intelligence launches vessel risk tool for underwriters
Lloyd’s List Intelligence adds Vessel Due Diligence to Seasearcher, giving marine underwriters and vessel vetters one platform for risk checks
Multinational cargo insurance programs strengthen supply chain control
Multinational cargo insurance programs give global companies better supply chain visibility, faster claims coordination and stronger loss prevention
Iran mandates insurance for vessels transiting Strait of Hormuz
Iran has introduced mandatory insurance requirements for all vessels transiting the Strait of Hormuz, a move that maritime industry observers see as the first step
London marine insurers discuss replacing cancellation notices after wartime cover changes
London marine insurers discuss replacing cancellation notices after wartime cover changes in the Gulf triggered political backlash and disrupted shipping
Allianz warns Iran war could drive major marine insurance claims
Allianz said insurers face major marine claims after ships were damaged during the Iran war, with $125 bn in vessels and cargo trapped in the Persian Gulf
Hormuz war risk insurance costs rise 4,000 times
Ships crossing the Strait of Hormuz face war risk insurance costs 4,000 times higher as mines, missiles, and attack boats threaten transit
US-Iran ceasefire strains marine war risk cover after Hormuz strikes
Fresh U.S. strikes near Bandar Abbas deepen uncertainty for marine insurers as Hormuz war risk pricing remains far above pre-war levels.
Francis Scott Key Bridge in Baltimore loss hits $2.8 bn marine insurance market
The Baltimore Bridge settlement lifts the Dali loss above $2.8 bn, creating the largest single marine insured loss on record
U.S.-Iran conflict reshapes airline insurance renewals across Middle East
WTW says U.S.-Iran tensions are driving aviation insurance pricing pressure, with hull war and liability rates set for tougher renewals in 2026
India plans sovereign backing for Gulf shipping insurance cover
India is preparing sovereign support for marine insurers as Gulf war-risk premiums surge, with proposed backstops worth $1.8 bn to keep cover in place
DFC and Chubb expand Hormuz maritime insurance facility to $40 bn
DFC and Chubb added six US insurance partners, doubling maritime reinsurance capacity to $40 bn to support trade through the Strait of Hormuz
QBE and insurtech Aurora launched an automated underwriting capability for Yacht P&I
QBE and Aurora launched an automated underwriting capability for Yacht P&I, cutting broker submission-to-bind time to under 10 minutes
Lloyd’s keeps Hormuz insurance cover available as war risk rates jump
Lloyd’s will keep insuring Strait of Hormuz voyages, though shipowners stay away as war risk premiums jump and underwriting shifts to case-by-case review
US $20 bn maritime reinsurance plan may fall short without liability cover
Moody’s warns US maritime reinsurance program lacks liability coverage, limiting impact on Strait of Hormuz shipping risk
Fitch flags Iran conflict risk for Lloyd’s and specialty insurers
Fitch warns Iran conflict could hit marine, aviation, and energy lines, with indirect risks from inflation, asset declines, and defaults
Gulf war-risk insurance withdrawal raises pressure on marine specialists
Fitch Ratings expects the withdrawal of hull war-risk marine insurance in the Persian Gulf to carry negative credit implications for U.S. property and casualty insurers
Iran conflict unlikely to trigger major insurer rating changes, Fitch says
Fitch says global insurers face manageable earnings pressure from Iran conflict unless escalation damages energy infrastructure or prolongs market volatility
Gulf hull war rates may jump 50% as marine insurance cover pulled
Marsh and Aon warn marine hull war premiums in the Gulf could rise 25–50% as underwriters cancel policies and reprice transits
Morningstar DBRS warns Gulf conflict may tighten reinsurance
Morningstar DBRS says Iran conflict could push reinsurers to raise attachment points, cut capacity and heighten volatility in marine and aviation lines
Marine insurers halt Gulf war risk cover as premiums near 1%
Marine insurers cancel war risk policies in the Gulf after tanker strikes push premiums toward 1% of hull value and strand 150 vessels
War insurance risk cover pulled as Hormuz conflict jolts shipping
Marine insurers are cancelling war risk cover for vessels operating in the Middle East Gulf as the United States–Israel–Iran conflict disrupts tanker traffic
Trump weighs tanker insurance plan as oil surges on Iran strikes
Trump reviews options to curb oil spike after Iran strikes, including federal tanker insurance and possible SPR use as Hormuz shipments stall
Gallagher Bassett buys Reck & Co to expand marine insurance claims reach
Arthur J. Gallagher expands claims platform as Gallagher Bassett acquires Germany-based Reck & Co, strengthening cross-border marine and transport claims services
Cargo theft shifts online as insurers warn of rising digital freight fraud
IUMI and TAPA EMEA warn cargo crime is surging worldwide, with digital fraud replacing physical theft as losses reach billions across supply chains
AXA XL Reinsurance names Julian Longbottom global head of Marine & Energy
AXA XL promoted Julian Longbottom to global head of Marine & Energy Reinsurance and appointed Jamie Pedro head of Specialty Reinsurance in Bermuda, effective January 2026
War insurance rates spike for Black Sea shipping after tanker drone attacks
Premiums for vessels heading to Russian and Ukrainian ports jump toward 1% of ship value as insurers reassess rapidly escalating risks in the region
Drone attack hits Russia-bound tanker in Black Sea, shipping insurance rates are expected to rise
A Palau-flagged tanker bound for Russia reported a drone attack in the Black Sea and diverted to Turkey
Geopolitics and climate strain global marine insurance – Kennedys warns
Kennedys warns geopolitical tension, climate volatility, trade disputes, and post-Brexit rules are reshaping risk and claims pressure in marine insurance
UK P&I and TT Club explore merger to build a larger maritime mutual
UK P&I Club and TT Club begin merger talks aimed at creating a stronger, more diversified maritime and transport insurance mutual
K2 Rubicon launched $50 mn Sentinel facility for Ukraine marine war-on-land cover
K2 Rubicon unveils Sentinel, a $50 mn Lloyd’s-backed war-on-land facility for Ukraine, expanding cargo capacity and supporting reconstruction efforts
Marine war risk insurance market shifts as global tensions spike and reinsurers tighten
Willis Re says modern marine war risk is being reshaped by gray zone attacks, cyber disruption, treaty limits and volatility across global shipping lanes
Volt Underwriting enters ports and terminals market with $15 mn capacity
Volt Underwriting launches a $15mn ports and terminals line backed by Tokio Marine Kiln, expanding its global energy focused MGA platform
Willis launched $200 mn facility “Undercover” for cargo owners
Willis launched a $200 mn facility named “Undercover,” which combines coverage for a range of geopolitical exposures for cargo owners globally
Insurance costs for Red Sea shipping soar amid renewed houthi attacks
The cost of insuring vessels transiting the Red Sea has more than doubled over the past week as Houthi forces resumed attacks on commercial ships
Middle East conflict lifts marine insurance war risk rates
The ongoing conflict in the Middle East has prompted many marine insurance underwriters to withdraw coverage for vessels with perceived links to the U.S., U.K., or Israel
Sweden tightens insurance controls on Russian vessels in the Baltic Sea
Sweden is increasing oversight of insurance coverage for Russian vessels operating in the Baltic Sea. This was reported by Swedish radio outlet Ekot
JWC expanded its Black Sea Listed Area, increasing war risk exposure for ships and adding insurance costs across Ukrainian and regional routes
Marine insurers warn of soft pricing, major losses, and fragmented trade as geopolitical conflicts reshape shipping and supply chains
Norway launches a 6-month pilot urging tankers in its EEZ to disclose insurance, targeting shadow fleet risks and aligning with regional maritime safety efforts
The IG clubs collectively reported a record high level of free reserves in 2023/24 driven by high investment returns, mainly due to the reversal of prior year unrealised losses on fixed income portfolios