On Demand Executive Briefing for Marine Insurers

Pricing the Blockade: War Risk in a Closed Hormuz

The Joint War Committee has placed the Gulf back on its high-risk Listed Area, the Joint Maritime Information Center has the Strait rated CRITICAL, and war risk pricing moves with each new advisory. For P&I Clubs and war risk underwriters, what's unsettled is the price, the exposure, and the exit.

In this briefing, the panel covers:

  • Who pays: How owners pass additional premiums under BIMCO's CONWARTIME/VOYWAR clauses, and what changed from 2013 to 2025.
  • The legality of transit tolls: How insurers treat reported facilitation fees, and where sanctions, illegality, and exclusion risks sit.
  • What holds the market together: How the IG reinsurance program and Lloyd's keep cover available, and where the new $40bn U.S. DFC facility fits in.
  • The role of maritime intelligence: How leading P&I Clubs feed portfolio monitoring, VOI lists, safety scores, and AI document validation into pricing.

 

Meet the Panel of Experts

See How Insurers Are Pricing A Closed Hormuz
David McKie, Partner, Preston Turnbull

David McKie

Partner, Preston Turnbull



Head of Sanctions Function, NorthStandard

Mark Church

Head of FD&D Claims Nordics & Northern Europe / Head of Sanctions Function, NorthStandard



Michelle Wiese Bockmann, Windward (5)

Michelle Wiese Bockmann

Senior Maritime Intelligence Analyst, Windward