Insurers announced they were cancelling war risk coverage after the IRGC said the Strait of Hormuz was ‘closed’. Insurance companies are cancelling war risk coverage for vessels in the Middle East Gulf as the widening United States/Israel-Iran conflict disrupts shipping, leaving tankers damaged or stranded and at least two people dead. The conflict entered its fourth day on Tuesday with US and Israeli attacks continuing on Iran, which has retaliated by attacking US assets and other infrastructure in Gulf countries. Shipping through the Strait of Hormuz between Iran and Oman has ground to a near halt after vessels in the area were hit as Iran retaliated against US and Israeli strikes. What has happened in the Strait of Hormuz? A commander in Iran’s Revolutionary Guard Corps (IRGC) said...