DP World has launched an end-to-end cargo war-risk insurance product for Middle East trade routes, covering shipments across ocean, air, port storage and inland transport.
The solution is designed to provide coverage across the supply chain – from ocean or air transit through port storage and inland delivery, “closing critical gaps left by conventional insurance policies, which typically insure a single leg of the journey”, the company says.
The cover applies to cargo moving through the Arabian Gulf, the Red Sea and surrounding inland routes. According to DP World, the policy covers physical loss or damage caused by war-related risks, including conflict, civil unrest, seizure and derelict weapons, with valid claims settled without a deductible. The programme also includes automatic port storage cover for up to 14 days.
DP World said it had leveraged its scale and relationships across global insurance markets to secure pricing that was “significantly more competitive than standard war risk premiums”. Coverage limits include up to US$400 million per shipment and up to $1 million per inland movement.
“This is about solving a real, immediate problem for global trade,” said Yuvraj Narayan, Group CEO of DP World. “Supply chains don’t stop at the port or the shoreline, and neither should insurance. For the first time, cargo owners can access a single policy that protects goods across the entire journey, even in high-risk environments, helping keep trade moving when it matters most.”
