Global & Cross-Border Insurance - April 26, 2026 - 16 min read
Marine War Risk Insurance for Indian Vessels in the Persian Gulf
India imports over 85% of its crude oil through the Persian Gulf and Red Sea, and Indian-owned tankers face war risk premium surcharges, JWC Listed Area restrictions, and escalating Houthi-related exposures that have reshaped the marine insurance market since late 2023. This guide covers hull war risk, P&I war extensions, CONWARTIME, GIC Re's role, and how Indian refiners manage vessel insurance in crude procurement contracts.
By Sarvada Editorial Team