Saturday, March 07, 2026

Insurance

The thing about insurance is it doesn't actually bring people back from the dead, though I understand why this wouldn't occur to the Trumpers.

I don't doubt that some shipping Cos might be thrilled to take that "risk" for a guaranteed payoff for themselves, but that doesn't mean they'll find many takers.
For commercial seafarers like Salgado, there’s little President Donald Trump could say right now that would convince them to sail through the Strait of Hormuz. Trump has promised to provide government-backed insurance policies and naval escorts to keep ships moving. But threats from Iran to attack any ships in the region outweigh the promises of support.

“As long as they keep firing rockets or drones to merchant vessels, this unsafe feeling will remain there,” he told CNN from a tanker in the Persian Gulf.