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flag U.S. launches $20B reinsurance program for ships through Strait of Hormuz amid regional tensions.

flag The U.S. has launched a $20 billion maritime reinsurance facility, led by Chubb, to provide war risk coverage for ships through the Strait of Hormuz, including hull, liability, and cargo protection. flag The program, backed by the DFC, aims to stabilize shipping amid regional tensions by offering insurance to vessels meeting U.S. standards, though specific transit conditions remain undisclosed. flag Chubb manages underwriting and claims, while other U.S. insurers contribute reinsurance. flag Despite the initiative, shipping activity remains low, and the program’s impact depends on actual participation and traffic.

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