Middle East Crisis: Insurance premiums for ships passing through the Gulf and nearby waters have surged dramatically in recent days. Rates have jumped between five and twenty-five times as tensions ...

The ongoing conflict in West Asia is pushing up war-risk insurance premiums for ships travelling through major maritime routes such as the Strait of Hormuz and the Red Sea.

Insurers are willing to provide coverage for ships operating in West Asia, albeit with heightened risk assessments and premiums which have soared multiple times. Still, many shipowners are choosing to ...