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Ship insurers juggle war risks for perilous Gulf route

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A tanker unloads oil in Wellington, New Zealand, on March 27, 2026

A tanker unloads oil in Wellington, New Zealand, on March 27, 2026

Iranian forces' threat to ships in the crucial Strait of Hormuz has driven up payments for the insurance that underpins the world freight industry.

Here are facts and figures about how maritime insurance works -- and the impact from the war sparked by US-Israeli strikes on Iran, which has virtually cut off shipping in the strait.

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Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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