WANA (Apr 26) – Insurers have introduced a new condition for vessel coverage: direct coordination with Iranian authorities to ensure safe passage through the Strait of Hormuz.

According to economic reports, Dylan Mortimer, Head of Marine at Marsh, stated in a recent interview that rising security concerns in the region have prompted insurers to revise their policies. Under this new requirement, shipowners must establish contact with Iranian authorities prior to transiting the Strait of Hormuz to secure insurance coverage.

 

The Strait of Hormuz, one of the world’s most critical maritime chokepoints, plays a central role in global oil transportation and international trade. Any disruption in this corridor can have far-reaching consequences for global markets. Mortimer emphasized that the measure is intended to reduce risks stemming from political and military tensions while enhancing the safety of maritime operations.

 

He also warned that failure to comply with this requirement could result in the denial of insurance coverage—an issue likely to influence shipowners’ decisions regarding maritime routes.

 

Industry experts view this policy shift as a clear sign of heightened risk levels in one of the world’s most strategic waterways. They argue that the move will not only increase operational costs but also force shipping companies to adopt more precise planning and engage in more complex coordination to navigate this vital passage.