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Strait of Hormuz crisis Insurance Political Risk and Trade

Hormuz crisis exposes shortcomings in war risk clauses amid unprecedented conflict

  • Charterparty agreements limit shipowners’ ability to avoid war risk-designated zones, potentially spurring disputes in the long term
  • Wording of war risk insurance clauses could be outdated given the rise in unprecedented events unfolding with the Hormuz crisis
  • Total loss claims could be challenged as June’s ceasefire could redefine when the 12-month window begins

  • Analysis

Marine industry may find itself needing to re-examine outdated wordings to ensure policies stay fit for purpose

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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