How IUMI says marine cover endures despite Middle East strain

The industry body identifies cargo hull liability and offshore energy as lines still in place.

The global marine insurance market continues to provide cargo, hull, liability, and offshore energy cover despite rising geopolitical tensions in the Middle East, the International Union of Marine Insurance said.

Whilst risk pricing and policy structures have been adjusted, insurers remain committed to supporting trade flows through the Persian Gulf and Red Sea.

The cargo and hull markets remain stable, supported by strong shipping demand and freight earnings. 

Although vessel rerouting and port congestion have increased operational complexity, significant capacity is still available. 

Underwriters are adopting more selective, case-by-case assessments to manage voyage-specific risks without reducing overall market support.

In the offshore energy sector, insurance for upstream risks remains widely available despite volatility in energy infrastructure.

Similarly, the liability sector has maintained its core coverage. 

Whilst liability underwriters have moved non-poolable and charterers' exposures to a case-by-case rating basis, the main International Group of P&I Clubs (IG) programs remain unchanged and non-cancellable.

The industry’s ability to adapt pricing and terms ensures that adequate cover remains in place to facilitate regional and global trade.