Lloyd's Market Association (LMA): Insurance companies provide insurance services for ships wishing to pass through the Strait of Hormuz.

The CEO of Lloyd’s Market Association (LMA) stated that they have learned that ships intending to transit the Strait of Hormuz can now obtain insurance quotes. If shipowners judge that the timing is suitable in the future and that crew and vessel safety are assured, the London marine war risk market will continue to provide coverage for these transit needs. In view of the rapidly evolving situation, uncertainties exist regarding the feasibility of rescue services as well as contractual relationships among charterers, shipowners, and cargo owners. It should be emphasized that the vast majority of these vessels are insured by the London market, and existing policies remain valid.

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