Lloyd’s, the global insurance and reinsurance marketplace, has announced the launch of a marine war risk consortium designed to provide additional insurance capacity for vessels and cargo transiting the Strait of Hormuz — a critical but risk‑prone maritime corridor.
The consortium will be led by Chubb, supported by participating Lloyd’s syndicates and specialist partners, offering up to $200 million each for hull, P&I (Protection & Indemnity), and dedicated cargo risk capacity. Coverage will be available to brokers and clients from 19 June 2026, subject to underwriting criteria, sanctions screening, and regulatory requirements.
This initiative aims to enhance marine war risk insurance solutions for shipping firms navigating geopolitical and security challenges in the region. Industry experts see the move as a proactive response to evolving global risk conditions, helping ensure continuity of essential trade routes and supply chains.
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