#GIA60 Campaign - (III) Case Study - Marine Claim

Insured vessel was struck by a missile on 11 March 2026 while transiting the Strait of Hormuz enroute from Dubai to India.
The attack caused severe damage, including a large breach in the port-side hull near the engine room, leading to fire, heavy smoke, and partial flooding. Three crew members died.
III had participated in War cover for Hull & Machinery and War P&I.
Broker requested urgent settlement on total loss basis on 8th April 2026 to compensate the vessel owner for loss of vessel and liabilities for crew related to war peril.
100% loss amount was about USD12 million.
III swiftly settled its share and remitted the funds on 10th April 2026.
The case reflects claim settlement capabilities of III and the speed in which the claim funds can be released owing to single office operation supported by a very agile claims team.