{"id":24906,"date":"2026-04-09T05:24:01","date_gmt":"2026-04-09T05:24:01","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=865093"},"modified":"2026-04-09T05:24:01","modified_gmt":"2026-04-09T05:24:01","slug":"shippers-rush-for-hormuz-insurance-after-truce-deal-broker-says","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2026\/04\/09\/shippers-rush-for-hormuz-insurance-after-truce-deal-broker-says\/","title":{"rendered":"Shippers Rush for Hormuz Insurance After Truce Deal, Broker Says"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/04\/vessels-passing-through-strait-of-hormuz-getty-580x348.jpg\"><\/p>\n<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/04\/vessels-passing-through-strait-of-hormuz-getty.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/04\/09\/865093.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/04\/09\/865093.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"bloomberg\">Shipowners are placing \u201chuge volume requests\u201d for insurance cover as they look to transit the Strait of Hormuz following the US-Iran ceasefire deal, according to broker McGill and Partners.<\/p>\n<p>With the increased demand from the market also comes \u201ca pronounced rate correction,\u201d said David Smith, head of marine at the London-based firm. He added that despite the ceasefire agreement, \u201cheightened war conditions still remain and the Strait of Hormuz is still classified as a very high risk area.\u201d<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"agencies\" data-revive-companies data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>The Strait of Hormuz <a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/04\/08\/864926.htm\" target=\"_blank\" rel=\"noopener\">remained largely blocked<\/a> on Wednesday, as shipowners try to understand if they can safely transit the vital waterway following a fragile ceasefire between the US and Iran that was announced overnight.<\/p>\n<p>That\u2019s as continued fighting in the Middle East, punctuated by Israeli strikes in Lebanon, threatened to derail the US-Iran d\u00e9tente even as the two sides signaled they could soon hold talks to end the six-week conflict.<\/p>\n<p>\u201cThe latest news on the ceasefire is positive news and will hopefully ease the passage through the Strait of Hormuz and for ships more generally in the region,\u201d said Andrew James, managing director, Marine, at broker Arthur J. Gallagher &amp; Co.<\/p>\n<p>\u201cOf course, it is very early days,\u201d James said, but \u201cunderwriters are already recognizing the ceasefire and reducing rates for some risks.\u201d He added that insurers \u201cwill continue to be understandably cautious as they watch how this plays out.\u201d<\/p>\n<p><em>Photograph: Vessels passing through the Strait of Hormuz on April 8, 2026. Photo credit: Shadi J. H. Alassar\/Anadolu\/Getty Images<\/em><\/p>\n<p><strong>Related:<\/strong><\/p>\n<div class=\"copyright-notice quiet\">Copyright 2026 Bloomberg.<\/div>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/agencies\/\" class=\"btn btn-sm btn-primary tagtag\">Agencies<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"865093\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>Interested in <em>Agencies<\/em>?<\/h4>\n<p>Get automatic alerts for this topic.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments Shipowners are placing \u201chuge volume requests\u201d for insurance cover as they look to transit the Strait of Hormuz following the US-Iran ceasefire deal, according to broker McGill and Partners. With the&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24907,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[375,24,116,117,1012,2004,1,486,670,91,1948,119,2005,489],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2026\/04\/shippers-rush-for-hormuz-insurance-after-truce-deal-broker-says.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24906"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=24906"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/24907"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=24906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=24906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=24906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}