Article ID: da20056fad328e521e2fce044e82296f846190a82ff7b55306b677509db56e17
Source ID: secondary:businessinsurance.com
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URL: https://www.businessinsurance.com/marine-war-risk-facility-adds-20b-capacity/
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Marine war risk facility adds $20B capacity - 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 Marine war risk facility adds $20B capacity by Claire Wilkinson Marine , P/C Insurers AIG , Berkshire Hathaway , Chubb , CNA , Liberty Mutual , The Travelers Cos. Apr 3, 2026 The U.S. International Development Finance Corp. and Chubb announced Friday that six U.S. insurers will back $20 billion in additional capacity for a marine reinsurance facility established to support shipping in the Gulf. Total capacity will double to $40 billion, with $20 billion backed by the DFC and $20 billion from Chubb and American International Group, Berkshire Hathaway, CNA, Liberty Mutual Insurance, Starr and Travelers. Chubb was named lead underwriter on March 11 and manages the public-private facility, which provides marine war risk insurance covering hull, protection and indemnity and cargo exposures. The initiative follows the Trump administration’s directive for the DFC to provide political risk insurance and financial guarantees for maritime trade after traffic through the Strait of Hormuz was severely limited amid the Iran conflict. Chubb will determine pricing and terms, assume risk, issue policies for eligible vessels and cargo and manage claims. “The commerce passing through the Strait of Hormuz plays a vital role in the global economy, and providing vessels with insurance protection is essential for resuming trade flows,” Chubb CEO Evan Greenberg said in a statement. Coverage will be provided on a rolling basis and the facility will be subject to eligibility screening, including sanctions and due diligence checks on vessels, operators and cargo. Related News N.Y. bill would mandate environmental due diligence for fashion companies April 3, 2026 KitKat crowdsources recovery after 12-ton chocolate heist April 3, 2026 Appeals court revives part of Vesttoo-related suit against Gallagher Re April 3, 2026 $2M fee, ‘secret codes’ required for Hormuz transit April 3, 2026 B.P. Marsh raises Pantheon stake to 41% April 3, 2026 Asian cat rates drop up to 25%: Gallagher Re April 3, 2026 Acrisure grows U.K. platform with two broker deals April 3, 2026 Ohio court orders review of summer disability benefits for school worker April 3, 2026 Banyan secures Lloyd’s coverholder status April 3, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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