IEA reports unprecedented oil supply disruption due to Middle East war, with Iran reportedly laying mines in Strait of Hormuz and two oil tankers attacked in Iraqi waters. Strategic stockpiles being released to offset shortages.

Impact · Marine and energy insurers face significantly elevated risk levels in key shipping corridors, likely leading to coverage restrictions and premium increases for vessels operating in affected regions.

Action · Review and potentially adjust marine and energy portfolio exposure in Middle East regions; consider implementing war risk surcharges and updating policy exclusions.

WTW Commercial Lines Insurance Pricing Survey (CLIPS) shows U.S. commercial insurance rates increased 2.9% in Q4 2025, indicating market stabilization.

Impact · Moderating rate environment suggests improved market conditions and potential pressure on carrier profitability as inflation continues.

Action · Adjust pricing strategies and renewal approaches to reflect moderating market conditions while maintaining underwriting discipline.

Major storms produced tornadoes that leveled homes, downed infrastructure, and overwhelmed emergency services south of Chicago.

Impact · Property insurers face significant claims volume in affected regions, potentially impacting loss ratios and highlighting the growing severity of severe convective storms.

Action · Activate catastrophe response teams and assess aggregate exposure in affected regions; review severe convective storm modeling assumptions.

Medical technology manufacturer Stryker Corp. reports systems remain down following cyberattack attributed to pro-Iran group, with uncertain timeline for recovery.

Impact · Cyber insurers face potential large loss from business interruption and recovery costs, while highlighting growing nation-state cyber risk exposure.

Action · Review cyber portfolio exposure to critical infrastructure and medical technology sectors; evaluate war exclusion language regarding nation-state attacks.