Ship insurers cancel war risk cover due to Iran conflict
Published on March 2, 2026.
Several marine insurers have announced they are cancelling war risk cover for ships due to the ongoing conflict in Iran and the Gulf. The cancellations will take effect from March 5. The cover will be excluded in Iranian waters, as well as the Gulf and adjacent waters. The insurers are working on a buy-back option to reinstate the cover. The situation has escalated after U.S. and Israeli forces launched strikes on Iran, leading to the closure of navigation through the Strait of Hormuz.
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