As tensions between the United States and Iran continue, analysts are watching the Strait of Hormuz, a narrow waterway between Iran and Oman’s Musandam Peninsula, for signs of how the situation may develop. The strait is a key route for global trade, and international shipping relies on maritime insurance to cover delays, damage, and other disruptions. During periods of geopolitical instability, the cost of “war risk” coverage often rises sharply. In this Expert Q&A with Michigan News, University of Michigan sociocultural anthropologist Jatin Dua explains how shipping and insurance systems operate and how the industry is responding to U.S. strikes on Iran.
