Industry Reaction to US Reinsurance Offer

As Iran's unofficial closing of the Strait of Hormuz enters its second week, maritime insurance premiums for war coverage are surging - in some cases by more than a thousand per cent.

The Trump Administration says it will provide reinsurance ‌for losses of up to $20 billion in the Gulf region - in a bid to provide confidence for oil and gas shippers during the war on Iran.

• Guest: Michelle Wiese Bockmann, Senior Maritime Intelligence Analyst at Windward
• Producer: Grace Stranger, Luke Siddham Dundon