CB · News · 20260621N
Marine War Risk Facility
Chubb Ltd · 2026-06-21 · Importance 38 · Surprise 42 · In source text
Chubb is leading a Lloyd’s consortium providing marine war risk insurance for vessels and cargo transiting the Strait of Hormuz. The facility offers up to $200 million each for hull and protection-and-indemnity risks, plus dedicated cargo capacity, while broader reporting describes total consortium coverage of $400 million. Chubb CEO Evan Greenberg said transit security remains highly uncertain because of mines and a narrow safe shipping channel, creating a war-zone environment for commercial shipping.
Key facts
- Chubb, along with Lloyd’s of London, has launched a $400 million marine war risk consortium to provide insurance for passage through the strait. source
- Global insurers like Lloyd's and Chubb are managing the risk with a $400 million war coverage consortium supported by a $20 billion U.S. government-backed reinsurance program. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | probable | — | Global insurers like Lloyd's and Chubb are managing the risk with a $400 million war coverage consortium supported by a $20 billion U.S.… |