Oscar Seikaly, CEO and Chairman of NSI Insurance Group, recently spoke with Al Jazeera Media Network’s Erin Hale about the ongoing economic impact following the reopening of the Strait of Hormuz.
Although shipping activity is beginning to resume, the effects of the disruption are expected to persist. Continued volatility in global energy markets, elevated insurance costs, and geopolitical uncertainty are likely to affect supply chains and pricing in the months ahead.
Seikaly emphasized that war risk insurance rates will not stabilize until there is a fully permanent resolution, with security conditions reaching complete certainty rather than partial assurances.
The Strait of Hormuz is responsible for approximately 20 percent of the world’s oil transit, underscoring how even brief disruptions can have significant global consequences for businesses and consumers.
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