The Norwegian War Risk Insurance for Ships (Den norske Krigsforsikring for Skib) is experiencing a sharp increase in inquiries from shipowners seeking war-risk coverage for vessels transiting the Strait of Hormuz.
A director at the insurer confirmed that the volume of requests has risen significantly in recent days, reflecting persistent anxiety among maritime operators about the security of the route.
This surge in insurance demand comes even though the Strait of Hormuz has been officially declared open to navigation.
The disconnect between the official status of the waterway and the market's risk appetite highlights the cautious stance of the shipping industry.
While diplomatic channels have moved toward de-escalation, the physical and operational realities of the chokepoint remain uncertain.
The Strait of Hormuz is officially open to navigation again, but the return of normal oil flows is likely to be a slow process stretched over months rather than days.