Insurers curb war-risk cover for Saudi-linked Red Sea cargoes amid Houthi threats
Major Lloyd’s-listed marine insurers are restricting war-risk coverage for ships with Saudi connections transiting the Red Sea, with some preparing to cancel existing policies after Houthi attacks and threats. The moves raise risk to Saudi oil exports that rely on the Red Sea route, prompting ships to reroute or alter navigation under heightened scrutiny of Saudi-linked vessels.