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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Lloyd’s of London stresses it is still insuring shipping in strait of Hormuz

Hormuz London Insurance Rachel Reeves United States
The Lloyd's of London building
Lloyd’s has extended the restricted areas where clients need to notify insurers to agree an appropriate premium in terms of the risk. Photograph: Andrew Winning/Reuters

There is a price for everything: even the cost of insuring a ship travelling through the strait of Hormuz.

Donald Trump’s proposals for the US to provide political risk insurance for seaborne trade in the Gulf may have given the impression a lack of cover was the reason why traffic through the key waterway has almost halted.

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