The insurance industry is set to face significant claims for ships that were damaged during the Iran war, according to Allianz SE.
The company said in its annual safety and shipping review that it had already received such claims stemming from the conflict, some of which could include total losses of vessels. The report didn’t give a value of the potential hit, though it estimated that vessels and cargo with a combined value of $125 billion were trapped in the Persian Gulf as of June 15.
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