Underwriters are now charging between 0.75% and 1% of the value of the ship to sail through the region.

Russian oil has been trading above $60 a barrel in Asia for much of this year, raising the prospect of violations for insurers in G-7 nations.

At least 12 of the 13 members of the International Group of P&I Clubs have changed policies to exclude claims stemming from Russia's invasion of Ukraine.

Insurance should brace for a flood of claims from everyone affected by the trading disruption, even as the ship blocking the waterway is now free.

A so-called "additional premium" that owners pay when sailing to the Persian Gulf is likely to rise with immediate effect.

U.S. sanctions will likely prevent covering the global tanker fleet against risks if they're moving oil to or from Iran.

U.S. sanctions will likely prevent covering the global tanker fleet against risks if they're moving oil to or from Iran.