Plan to Unblock Strait of Hormuz Collides with Realities of Global Insurance
14 points by petethomas
by cosmicgadget
0 subcomment
> U.S. officials called London insurers and brokers, trying to figure out how the market operates, industry insiders said. Some have received calls asking for confidential data on the Lloyd’s market that participants have been reluctant to share.
It's funny to see these High IQ Tweets quickly get walked back. Insurance policy! Naval escorts! War is complete!
by burnt-resistor
0 subcomment
Iran is currently able to make it impossible to insure vessels that don't benefit them because they have the weapons and intelligence to fire upon any vessel they don't approve of. And the US lacks the numbers and types of ships to do any meaningful escort as was promised because it doesn't have the 600 ship navy it once had. Therefore, the SoH is effectively closed indefinitely (months? years?) because of a failure to plan.
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