2 chapters across the catalog
Lloyds of London, Maritime Insurance, US Reinsurance Program
The war in Iran has disrupted the global maritime insurance market, traditionally centered at Lloyds of London. In response, President Trump has utilized the U.S. Development Finance Corporation (DFC) to provide cheaper insurance for ships, a move seen as a significant blow to British financial influence.
US Reinsurance Program for Strait of Hormuz Shipping
The U.S. government has expanded its reinsurance program to $40 billion through the Development Finance Corporation (DFC) to support tankers sailing through the Strait of Hormuz. This program aims to normalize insurance rates that skyrocketed at Lloyds of London due to the conflict. Officials state the U.S. government intends to make a profit on these insurance premiums while encouraging continued maritime trade.
