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Strait of Hormuz crisis Risk and Compliance Insurance

Iran ‘terrorist’ designation presents quandary for marine insurers

  • Fees could free ships from detention, obviating need for total loss payouts
  • No war risk discounts for vessels that pay for Iranian escorts
  • But sanctions may prevent insurers from stepping in

  • News

Making payments to transit the Strait of Hormuz could land shipowners in a legal grey area, particularly given that Iran’s Islamic Revolutionary Guard Corps has been designated as a terrorist organisation by several countries

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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