Chubb Backing Trump’s $20 Billion Reinsurance Plan for Hormuz

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Chubb Ltd. is collaborating with the US International Development Finance Corp. on a $20 billion reinsurance initiative to facilitate shipping through the Strait of Hormuz. This plan, part of the Trump administration’s efforts, aims to provide a backstop for vessels amidst disruptions caused by the conflict between the US, Israel, and Iran, with Chubb serving as the primary underwriter. Other insurers are expected to join the program.

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