Marine insurers reaffirm their commitment to supporting trade in the Middle East in Marine Insurance P&I Club News 27/03/2026 The global marine insurance market continues to show resilience and is maintaining the availability of cargo, hull, liability and offshore energy cover despite increasing geopolitical tensions in the Middle East. Cargo Cargo insurers across global markets remain committed to supporting trade flows, including in high-risk areas such as the Persian Gulf and Red Sea. Although the evolving situation in the Middle East has prompted adjustments – particularly in war risk pricing and policy structures – significant capacity is still available. Many insurers are continuing to provide cover through established mechanisms, including cancellation and reassessment provisions, allowing for flexibility as conditions change. This approach reflects a measured response to heightened risk, rather than any reduction in market support. Operational challenges remain significant. Shipping disruptions, including sharply reduced vessel traffic and rerouting, have increased complexity for clients. However, insurers are responding with tailored solutions and case-by-case underwriting to ensure continued protection for cargo interests. Hull The global hull insurance market remains outwardly stable, supported by resilient shipping demand and strong freight earnings. Even as geopolitical tensions reshape trading patterns, particularly around key transit routes, insurers continue to provide cover, adapting terms and pricing where necessary to reflect evolving risks. The Middle East situation has introduced new operational realities, including rerouting and port congestion, but has not disrupted the availability of hull cover. Instead, underwriting is becoming more selective with increased focus on aggregation risk and voyage-specific exposures. This ensures that shipowners can continue to operate with confidence even in a more complex risk landscape. Offshore Energy In the offshore energy sector, insurance capacity remains widely available, particularly for upstream risks, despite rising volatility linked to geopolitical developments. Recent escalation in the Middle East, including impacts on energy infrastructure and supply flows, has introduced additional uncertainty into global markets. Nevertheless, insurers continue to provide cover supporting energy production and transportation activities worldwide. While pricing and underwriting conditions are evolving to reflect increased exposures, there has been no systemic withdrawal of capacity. Although the duration of the conflict in the Middle East remains uncertain, marine insurers have demonstrated their ability to adapt and have continued to provide adequate cover to support the continuation of trade in the region. Liability Liability underwriters took the decision to adjust the way their non-poolable and charterers exposures were placed so they could be rated on a case-by-case basis. Most of those contracts were moved to that basis but there was no change to provision of cover under the main International Group of P&I Clubs (IG) programmes as those are non-cancellable. Source: International Union of Marine Insurance 2026-03-27 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.