The Economic Times

On a War-footing: Reinsurers move to rework marine, aviation policies as West Asia tensions rise

Global reinsurers are reviewing war risk insurance for ships and planes due to rising tensions in West Asia. The Strait of Hormuz is now seen as a high-risk combat zone. Premiums for war risk are expected to increase significantly. Some hull policies have already been cancelled or repriced. Cargo policies are still under review.