So much for that....
https://www.reuters.com/business/ene...ts-2026-03-03/
Trump orders oil tanker insurance support, says Navy could escort ships in Gulf
The US Development Finance Corporation is ~$200 billion short of the capacity needed to underwrite insurance policies for ships going through the Strait of Hormuz reports the FT.
Details include:
1. The US DFC was ordered by President Trump on March 3rd to insure vessels in the Strait of Hormuz
2. DFC reportedly has $154B of the $352B needed to underwrite insurance policies
3. Raising the total liability cap for the US DFC would require an act of Congress
4. Traffic in the Strait of Hormuz is now down by ~92%
FT:
https://archive.is/20260306015953/ht...9-2a2ba7437a25
Industry doubts Trump plan to insure Gulf oil tankers as Iran war halts transit