U.S. Launches $20 Billion Maritime Reinsurance Program for Gulf Shipping

The U.S. has launched a $20 billion maritime reinsurance program to support shipping through the Gulf region amid tensions related to the conflict with Iran. Authorized by President Trump, the initiative, led by the International Development Finance Corporation (DFC), provides political risk and war risk insurance, initially covering hull, machinery, and cargo for eligible vessels. The plan aims to restore confidence in Gulf shipping lanes, particularly the Strait of Hormuz, to ensure the continued flow of critical commodities like oil and liquefied natural gas.