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DP World moves into shipping war risk insurance

With the Hormuz crisis into its third month, terminal operator DP World has launched a first-of-its-kind cargo war risk insurance solution to help businesses navigate disruption across Middle East trade routes.

The solution provides continuous coverage across the entire supply chain, from ocean or air transit through port storage and inland delivery. The solution covers physical loss or damage caused by war-related risks, including conflict, civil unrest, seizure and derelict weapons, with all valid claims settled with zero deductible.

“This is about solving a real, immediate problem for global trade,” said Yuvraj Narayan, group CEO, DP World. “Supply chains don’t stop at the port or the shoreline, and neither should insurance. For the first time, cargo owners can access a single policy that protects goods across the entire journey, even in high-risk environments, helping keep trade moving when it matters most.”

Available to all companies trading in or through the Middle East, the programme is designed to maintain supply chain continuity across key trade corridors, including the Arabian Gulf, the Red Sea and surrounding inland routes. The programme offers a range of options, including high coverage limits, including up to $400m per shipment and $1m per inland movement.

Source: splash247.com

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