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44 min ago 2 min read
Global port operator DP World has launched cargo war risk insurance to help businesses navigate disruption across Middle East trade routes.
It said traditional insurance has become “fragmented, costly and often unavailable”.
DP World’s solution provides continuous coverage across the entire supply chain, from ocean or air transit through to port storage and inland delivery – closing critical gaps left by conventional insurance policies which typically insure a single leg of a journey.
The operator declined to give full details but said its pricing is “significantly more competitive” than standard war risk premiums. It is believed to be funding the insurance by leveraging on its global scale and long-standing relationships with major international insurance markets.
Yuvraj Narayan, Group CEO at DP World, said, “This is about solving a real, immediate problem for global trade. Supply chains don’t stop at the port of the shoreline, and neither should insurance.” Qatar’s helium business has been impacted three ways, through the , disruption to the and ongoing challenges relating to .
The solution, available to all companies trading in or through the Middle East, covers physical loss or damage caused by war-related risks, including conflict, civil unrest, seizure and derelict weapons “with all valid claims settled with zero deductible”. High coverage limits include up to $400m per shipment and $1m per inland movement.
The move is designed to encourage confidence in Gulf markets but the situation remains tense.
US Central Command said US forces intercepted “unprovoked Iranian attacks and responded with self-defense strikes” in the Strait of Hormuz last night, placing further strain on the fragile ceasefire.
