Major P&I Clubs Cancel Persian Gulf War Risk Coverage: 150 Ships Stranded as Premiums Triple
In an unprecedented move, six major P&I clubs including Gard, Skuld, and NorthStandard have cancelled war risk coverage for vessels in Iranian waters. Buy-back premiums have tripled to $750,000 per vessel, leaving shipowners scrambling for alternatives.
This InsurTech Gulf article discusses insurance technology, underwriting operations, and market developments relevant to insurers and brokers in the UAE and GCC. It is part of the site's ongoing coverage of underwriting automation, digital insurance workflows, and practical implementation trends in insurance software.
What This Article Covers
The article focuses on P&I Clubs, War Risk, Persian Gulf, Coverage Cancellation and explains the topic in a way that supports decision-makers evaluating digital transformation, underwriting efficiency, and insurance operations improvements. Readers can use this page as an overview before exploring related product pages or further market analysis.