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Hormuz conflict spurs marine claims: Allianz - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Hormuz conflict spurs marine claims: Allianz by Claire Wilkinson Marine , P/C Insurers Middle East/Africa Allianz Jun 24, 2026 Geopolitical disruptions to key trade routes have become a leading concern for shipowners and cargo operators, despite a continued decline in shipping losses and incidents, Allianz Commercial said Wednesday in its annual Safety and Shipping Review. Global shipping incidents fell 16% to 2,818 in 2025 from 3,353 a year earlier, while total vessel losses declined to 43 from 79, the report said. The closure of the Strait of Hormuz during the recent Middle East conflict highlights the vulnerability of critical shipping chokepoints and the potential for disruptions to vessel operations, supply chains and trade flows, the report said. About 1,150 cargo-carrying vessels with a combined vessel and cargo value of approximately $125 billion were operating in the Persian Gulf as of June 15, Allianz estimates. Separately, the insurer tracked 46 vessel incidents in the Strait of Hormuz through June 11. Fourteen seafarers were killed. Tankers accounted for nearly half of all reported incidents, while container ships represented about one-quarter. Allianz has received claims notifications resulting from the conflict, some of which are significant, the report said. Marine hull and cargo coverage remained available throughout the conflict, although premiums increased for vessels transiting the region. The issue for many shipowners was less about insurance availability than the risks to crews and vessels operating in a conflict zone, Allianz said. “Even if the U.S. and Iran agreement holds and the Strait of Hormuz is reopened, solid assurances of safe passage will be required,” Allianz said in a statement. Fire remained a significant source of marine claims, with 218 fire and explosion incidents reported in 2025, the second-highest annual total of the past decade, the report said. Machinery damage or failure remained the leading cause of shipping incidents, accounting for more than half of all reported cases. Repair costs continue to rise and machinery claims inflation has yet to return to pre-pandemic levels, a trend that could be exacerbated by disruptions stemming from the Middle East conflict, the report said. Geopolitical tensions are prompting companies to reassess supply-chain and risk-management strategies, the report said. “What is becoming clear is that we have to pay a price for uncertainty, shifting from ‘just-in-time’ to ‘just-in-case’ supply chains, and prioritizing resilience over cost efficiency,” Rahul Khanna, global head of marine risk consulting at Allianz Commercial, said in a statement. 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