Trump war risk insurance scheme capacity doubles to $40bn

Public-private partnership ‘brings stability to maritime trade at a critical moment’, chief executive contends, but there are still no known users for Iran conflict emergency facility

THE US-led reinsurance facility for Strait of Hormuz hull war risk policies has doubled its capacity from $20bn to $40bn after lining up a slew of big name backers, according to the federal government agency tasked with setting up the scheme.