US-Iran war: a live timeline for the re/insurance market

Follow Intelligent Insurer’s rolling coverage of the escalating US-Iran conflict, with a focus on developments that matter to the global insurance and reinsurance industry.

London Market still offering marine war risk cover

The London Market is “very much open” for marine war risks business, despite rising premiums driven by the conflagration in the Middle East, says broker Gallagher.
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US government offers political risk cover for vessels backed up in Strait of Hormuz

The US International Development Finance Corporation is to offer political risk insurance for maritime vessels traversing the Gulf, following the order of President Trump.
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War claims negligible to date, exposures well contained

Global re/insurance group Scor sees “negligible” loss out of the Persian Gulf conflict to this point and feels it has the requisite terms or exclusions in place to feel comfortable about exposures, CEO Thierry Léger suggested during an earnings briefing, March 4.
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Gulf State aviation insurers weighing up whether to review terms

Aviation insurers exposed to the Iran/US war may be considering issuing seven‑day notices to review terms, says brokerage Willis.
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