As Middle East conflict drives up marine insurance costs globally, Hong Kong has an opportunity to establish itself as a trusted center for war-risk insurance, leveraging its port status and legal framework.

As conflict in the Middle East sends marine insurance costs surging, Hong Kong has an opening to prove that it is more than a port city by becoming a trusted centre for risk pricing, legal certainty and maritime resilience. When tensions rise in the Middle East, the first signs of trouble in global shipping do not always appear at sea. Often, they appear in the insurance market. Premiums jump. Underwriters retreat. Shipowners rethink routes. Long before a vessel is struck, the cost of moving...