Any shipping transiting Hormuz that pays fees or tolls to the Iranians will now lose insurance if they’re insured by a Lloyd’s market carrier. Lloyd’s Market Association has determined that due to terrorism sanctions they won’t eat the legal risk of insuring any hulls who deal with Iran in such a way.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.