US Plan to Unblock Strait of Hormuz Collides With Realities of Global Insurance - WSJ
- Trump's plan to sell insurance for ships in the Gulf, a way of easing the war-induced crunch in oil supplies, is proving easier said than done.
- The effort was designed to help "ensure the free flow of energy to the world," Trump said in a social-media post last week. The US would provide, at a very reasonable price, political risk insurance for all shipping, backed if necessary by U.S. Navy escorts, he said.
- The US Development Finance Corp., part of the federal government, was tasked with implementing the $20 billion plan, an "America First"-style insurance program, led by American insurers.