War Risk Claims Top $2 Billion as Shipping Attacks Spread Beyond Hormuz

By Lori-Ann LaRocco – The payout to vessel owners damaged in the Iran War is the second-biggest payout for marine underwriters in more than a decade, according to maritime insurance experts.

“There have been around $2 billion in war risk claims since the outbreak of the fighting in the Middle East, with over 70 claims to date,” explained David Osler, Law & Marine Insurance Editor at Lloyd’s List. “This will be offset by heavily enhanced premium income. I think it’s exceeded only by payouts on the container ship that brought down the bridge in Baltimore in 2024.”

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