NSI Insurance Group’s President and CEO Oscar Seikaly was recently featured in Al Jazeera’s coverage of the escalating tensions surrounding the Strait of Hormuz, providing expert insight on the impact geopolitical instability is having on the global marine insurance market.
Quoted alongside leading international experts, Oscar discussed how underwriters are repricing war risks on a day-to-day basis, with premiums currently ranging from 2.5% to 5% of a vessel’s value. He also noted that while rates may eventually ease, they are unlikely to return to pre-conflict levels.
Read the full article here.
