Most insurance companies refuse to sign policies covering ships that venture to transit through the Strait of Hormuz 'due to the risk of war', and the few that do have skyrocketed their policy prices, said today the Secretary General of the International Maritime Organization (IMO), Arsenio DomÃnguez. In an interview with EFE at its headquarters in London, DomÃnguez explained that these insurers had a first reaction to raise their policies up to five times their price or sometimes more, but currently 'there are very few that offer these insurances', which in turn only cover the ship and its cargo, but not the human lives that may be at risk in an attack. Most insurance companies no longer sign policies for ships transiting the Strait of Hormuz, according to the IMO.
