The ongoing military action between the U.S., Israel, and Iran is affecting commerce both in the region and globally. There have already been reports of several oil tankers, cargo vessels, and a data center being damaged in attacks. Even businesses not directly impacted will be affected as shipping companies avoid the Strait of Hormuz, causing delays and higher prices for downstream customers. While many might assume insurance coverage is unavailable, that is not always the case and knowing where to look is key.

Reprinted courtesy of Michael S. Levine, Hunton Andrews Kurth LLP, Cary D. Steklof, Hunton Andrews Kurth LLP and Joseph T. Niczky, Hunton Andrews Kurth LLP

Mr. Levine may be contacted at mlevine@hunton.com
Mr. Steklof may be contacted at csteklof@hunton.com
Mr. Niczky may be contacted at jniczky@hunton.com