“Working alongside US States Central Command (CENTCOM), DFC coverage will offer a level of security no other policy can provide. We are confident that our reinsurance plan will get oil, gasoline, LNG, jet fuel, and fertilizer through the Strait of Hormuz and flowing again to the world,” said DFC CEO Ben Black.
Maritime Reinsurance details:
- DFC reinsurance facility will insure losses up to approximately USD20 billion on a rolling basis.
- This revolving insurance offering will apply only to vessels that meet the criteria.
- Insurance will focus on Hull & Machinery and Cargo to start.
- DFC has identified best-in-class, preferred American insurance partners.
- DFC and Treasury are coordinating closely with CENTCOM on next steps in the implementation of this plan.
DFC will continue to provide additional information as it becomes available. Businesses and financial institutions seeking access to DFC’s Maritime Reinsurance product should contact DFC directly at maritime@dfc.gov.
