Trump’s solutions for Iranian shipping threat disappoint insurance sector

US-backed insurance and naval escorts offered by Donald Trump for shipping in the Straits of Hormuz have not prevented maritime premiums from soaring. Following the US attack on Iran, underwriters are reassessing risks to oil, gas, and cargo vessels in the region. Experts are questioning the effectiveness of the proposal, with concerns that naval escorts could increase the risk to shipping rather than deter threats. The uncertainty surrounding the situation has led to rising premiums and potential disruptions to global trade.

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