War risks insurance, force majeure and frustration: what protection do they offer?

Helen Biggin, partner, Vedder, discusses the impact of the war in the Gulf on marine insurance policies and the contracts that rely on them

Since the commencement of the US/Iran conflict, traffic through the Strait of Hormuz remains significantly reduced. While the Strait is not officially closed, it is presently too dangerous to transit through them, which clearly has enormous implications for shipping and other commercial parties who may be unable to perform their contractual obligations and will be considering ways to reduce risk and protect their position.