Insurance — Middle East Conflict Triggers Maritime Insurance Crisis as Rates Surge 1000%; Market Disruption Spreads Beyond Region

Insurance · 2026-03-07

The insurance industry faces a rapidly evolving crisis in maritime coverage as the Iran-US conflict transforms risk calculations across global shipping lanes. Multiple reports confirm a near-total halt of traffic through the Strait of Hormuz, with war risk premiums skyrocketing up to 1000% and major reinsurers canceling coverage outright. This maritime insurance disruption is having cascading…