NSI Insurance Group’s CEO and Chairman Oscar Seikaly was featured in Al Jazeera discussing when the Strait of Hormuz may be safe again for commercial shipping. The article explores the region’s security risks, their impact on shipping confidence, and what would need to happen for insurers to return to normal coverage terms.
Oscar weighs in on the challenge of pricing risk in a volatile environment, noting that while markets can absorb volatility, uncertainty remains far more difficult to underwrite. He highlights that a meaningful return to standard war risk coverage will require clear signs of lasting stability, including a sustained ceasefire, credible security assurances, no recent vessel incidents, and consistent freedom of navigation.
Read the full article here.
