Insurance firms have rejected Chevron's claim for $57 million following the seizure of an oil tanker by Iran. The incident occurred in January when the tanker was detained by Iranian authorities in the Persian Gulf. Chevron had sought compensation for the value of the oil cargo aboard the vessel.
The insurance companies involved in the case have stated that they are not liable to cover the claim due to the circumstances surrounding the seizure. They argue that the incident falls under the category of political risks, which are typically excluded from standard insurance policies.
