Hormuz Strait standoff threatens Gulf food supply and shipping

Impact verdict

High impact. Loss pathway: Sustained closure/disruption of the Strait of Hormuz directly affects marine hull and marine cargo transits (war and ordinary), energy cargo and stock-throughput covers, and political violence/energy physical damage covers in the Gulf. Confirmed rerouting of oil tankers via the Suez Canal and a >4% oil price move indicate live market stress; the ~90% traffic reduction signals severe transit restriction rather than normal operations. Evidence: Multiple corroborating sources describe maritime trade impact, traffic down c.90% vs normal, Suez tanker increase, and a 100-day conflict horizon framing. Limits: No confirmed vessel total loss, no specific insured loss amount, no explicit named underwriter exposure, and no confirmation of a formal full closure order — impact remains conditional on continued disruption and escalation.