The ongoing Iran war is significantly impacting the insurance industry, especially across marine, aviation, and energy lines. War-risk premiums for ships have surged dramatically—by up to 1000% in some cases — while some insurers have withdrawn coverage altogether due to escalating attacks and uncertainty. Disruptions in the Strait of Hormuz, through which ~20% of global oil flows, have heightened underwriting risks and reduced reinsurance capacity. Insurers are rapidly repricing risk, launching specialized war-risk covers, and relying on government-backed schemes, reflecting a shift toward more volatile, geopolitically driven insurance markets.