{
 "slug": "lloyds-lma-hormuz-transit-fee-clause-hull-cover-ceases-iran-toll-payment",
 "title": "Lloyd's Market Voids Hull Cover for Ships That Pay Iran's Hormuz Toll — Payment Itself Now the Sanctions Trigger",
 "url": "https://www.grosswald.org/lloyds-lma-hormuz-transit-fee-clause-hull-cover-ceases-iran-toll-payment/",
 "canonical": "https://www.grosswald.org/lloyds-lma-hormuz-transit-fee-clause-hull-cover-ceases-iran-toll-payment/",
 "type": "dispatch",
 "published": "2026-07-23T23:38:53.000+02:00",
 "updated": "2026-07-29T18:23:07.000+02:00",
 "excerpt": "\n\n\n\n\n\n\n\nLondon, 23 July 2026\n\n\n\n\n\n\nKey points\n\n\n * The Lloyd's Market Association published a new model clause and guidance note on 23 July for marine hull insurers, addressing transit-fee payments demanded by Iran for passage of the Strait of Hormuz\n * Under the clause, insurers provide no cover for the payment itself and, in the LMA's words, \"cover for the relevant vessel will cease due to the risk of a breach of sanctions and/or terrorism legislation in the US, UK or EU\" — the exclusion reach",
 "countries": [],
 "domains": [
  "mena-energy-security",
  "policy"
 ],
 "capabilities": [],
 "tags": [
  "defense-policy",
  "mea-mena-energy-security"
 ],
 "sources": [],
 "entities": [
  "russia",
  "united-kingdom"
 ],
 "inferred": {
  "countries": [
   "russia",
   "united-kingdom"
  ],
  "domains": [],
  "capabilities": []
 }
}