According to a report by the British shipping media “Lloyd's Ship Daily” on the 12th, the International Maritime Insurance Federation estimates that since the outbreak of war in the Middle East at the end of February this year, marine insurers have faced compensation of 1.5 billion to 2 billion US dollars as a result of about 70 related accidents. Lars Lange, director general of the International Maritime Insurance Union, said that current compensation estimates include financial losses such as hull damage and chartering. The relevant compensation has not yet been actually paid, but according to the information currently available, the insurance market faces an overall compensation scale of about 1.5 billion to 2 billion US dollars. Lange warned that as the war continues, the insurance industry is increasingly concerned about another potential risk. That is, if a large number of ships stay for a long time and cannot be put into operation for 12 consecutive months, the relevant insurance contracts may trigger full loss compensation clauses, involving the number of ships, which may reach hundreds, and the scale of future compensation may expand further. The report said that factors such as the crisis in the Strait of Hormuz, the attack on ships in the Red Sea region, and the Russian-Ukrainian conflict are having a combined impact on the shipping and marine insurance markets. Industry insiders believe that the increased risk of war, disrupted shipping, and the uncertainty facing major shipping routes around the world have begun to spread to the wider supply chain. Lange said that high-risk routes, including the Strait of Hormuz, can still be covered by insurance, “but they require corresponding prices and conditions.” The market generally believes that in the absence of signs of a peaceful settlement, a further increase in premiums is almost unavoidable.

According to a report by the British shipping media “Lloyd's Ship Daily” on the 12th, the International Maritime Insurance Federation estimates that since the outbreak of war in the Middle East at the end of February this year, marine insurers have faced compensation of 1.5 billion to 2 billion US dollars as a result of about 70 related accidents. Lars Lange, director general of the International Maritime Insurance Union, said that current compensation estimates include financial losses such as hull damage and chartering. The relevant compensation has not yet been actually paid, but according to the information currently available, the insurance market faces an overall compensation scale of about 1.5 billion to 2 billion US dollars. Lange warned that as the war continues, the insurance industry is increasingly concerned about another potential risk. That is, if a large number of ships stay for a long time and cannot be put into operation for 12 consecutive months, the relevant insurance contracts may trigger full loss compensation clauses, involving the number of ships, which may reach hundreds, and the scale of future compensation may expand further. The report said that factors such as the crisis in the Strait of Hormuz, the attack on ships in the Red Sea region, and the Russian-Ukrainian conflict are having a combined impact on the shipping and marine insurance markets. Industry insiders believe that the increased risk of war, disrupted shipping, and the uncertainty facing major shipping routes around the world have begun to spread to the wider supply chain. Lange said that high-risk routes, including the Strait of Hormuz, can still be covered by insurance, “but they require corresponding prices and conditions.” The market generally believes that in the absence of signs of a peaceful settlement, a further increase in premiums is almost unavoidable.