DP World said it has launched a “first-of-its-kind” cargo war risk insurance solution covering all transport modes to help businesses navigate disruption across Middle East trade routes, where traditional insurance has become fragmented, costly and often unavailable.
The solution provides continuous coverage across the entire supply chain, from ocean or air transit through port storage and inland delivery, “closing critical gaps left by conventional insurance policies, which typically insure a single leg of the journey”, stressed DP World.
The logistics company added that by leveraging its scale and relationships across global insurance markets, it has “secured pricing that is significantly more competitive than standard war risk premiums”.
“This is about solving a real, immediate problem for global trade,” said Yuvraj Narayan, group chief executive, DP World.
“Supply chains don’t stop at the port or the shoreline, and neither should insurance. For the first time, cargo owners can access a single policy that protects goods across the entire journey, even in high-risk environments, helping keep trade moving when it matters most.”
Available to all companies trading in or through the Middle East, the programme is designed to maintain supply chain continuity across key trade corridors, including the Arabian Gulf, the Red Sea and surrounding inland routes.
It covers physical loss or damage caused by war-related risks, including conflict, civil unrest, seizure and derelict weapons, with all valid claims settled with zero deductible.
The programme offers a range of options, including: end-to-end protection from ocean or air transit through to inland delivery; standalone ocean, air or land transit policies; automatic port storage cover for up to 14 days; high coverage limits, including up to $400m per shipment and $1m per inland movement.
Air cargo operations have faced disruption since the start of the latest outbreak of conflict in the Middle East at the end of February, while ocean shipping has had to navigate the closure of the Strait of Hormuz since 2 March.
