Markets/Coverages: Chubb Leads New Lloyd’s War Risk Consortium for Hormuz Shipping

A new Lloyd’s market consortium has been launched to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz, Lloyd’s announced. Chubb will serve as lead underwriter, supported by participating Lloyd’s syndicates and specialist …

Commercial risk teams are responding with tighter controls, scenario modeling, and broader collaboration across underwriting, claims, and cyber operations.

Leaders continue to prioritize resilience planning while balancing cost, coverage terms, and operational exposure in a changing market cycle.