Marine insurance companies in London maintain coverage for ships in the Middle East, despite the increase in war risk premiums.

Maritime insurance companies in the London market continue to provide coverage for vessels operating in the Middle East, despite the rising war risk premiums, according to Angus Blayney, director of the maritime division at broker Gallagher.

Insurance rates have increased depending on the type of vessel, cargo, and route, amid attacks by American and Israeli forces on Iran and retaliations from Tehran. The Strait of Hormuz, a strategic point for global oil exports, remains a central factor in the commercial impact of the conflict. Blayney mentioned that although the maritime security environment is challenging, insurers continue to offer adequate policies to support maritime trade. Gallagher confirmed that there is available insurance capacity through the Lloyd's market in London, and U.S. President Donald Trump stated that the U.S. Navy could escort tankers through the Strait of Hormuz if necessary.