Insurers likely to hike oil tanker premiums after attacks

Posted On: Jun. 14, 2019 6:40 AM CST

An Iranian navy boat tries to stop the fire of an oil tanker after it was attacked in the Gulf of Oman, June 13, 2019./ Tasnim News Agency/Handout via REUTERS

Marine insurers are likely to hike insurance rates for oil tankers in the Middle East after two vessels were attacked near the Strait of Hormuz on June 13, Bloomberg reported citing sources. Norway-based Den Norske Krigsforsikring for Skib, one of the damaged vessels' insurers, will increase its war insurance rates while Hellenic Mutual War Risks Association (Bermuda) Ltd. is expected to charge an additional premium for vessels that sail through the Persian Gulf.