Chubb Limited has been appointed as the lead U.S. insurer to support maritime operations in the Persian Gulf amid ongoing tensions involving Iran. The move aims to stabilise commercial shipping through the strategically vital Gulf waterways, including the Strait of Hormuz, which carries a significant share of global oil and container traffic.
The initiative, backed by the U.S. government, provides a reinsurance framework for U.S.-flagged and allied commercial vessels operating in high-risk zones affected by the conflict. By taking on the lead insurer role, Chubb will coordinate underwriting, risk assessment, and claims management for carriers navigating these volatile waters.
Officials noted that insurance coverage for vessels in the Gulf has become increasingly complex due to elevated war-risk premiums and the threat of regional hostilities. The U.S. plan, with Chubb at the helm, is intended to ensure continuity of shipping operations, prevent disruptions to energy and goods flows, and maintain confidence among commercial operators.
Maritime and logistics experts said the move could help mitigate freight cost spikes and route uncertainty, which have been affecting global trade since tensions escalated. U.S. and allied carriers will now have access to single-voyage insurance policies underwritten through Chubb, reducing delays and stabilising premiums in the high-risk region.
This development underscores the growing role of government-backed insurance initiatives in safeguarding commercial shipping in conflict-affected areas, ensuring that critical supply chains continue to function despite geopolitical uncertainties.