Ozan Akyurek

The Situation: At least 1,000 vessels, including 500 oil and gas tankers and 500 container ships, are currently trapped or stalled on either side of the Strait of Hormuz as a result of the ongoing U.S.-Israel-Iran conflict. The Result: Various lines of insurance coverage may respond with coverage for the attendant property and business interruption losses.

In Short The Situation: At least 1,000 vessels, including 500 oil and gas tankers and 500 container ships, are currently trapped or stalled on either side of the Strait of Hormuz as a result of the ongoing U.S.-Israel-Iran conflict. The Result: Various lines of insurance coverage may respond with coverage for the attendant property and business interruption losses.

Kevin Wilcock is a European counsel at Jones Day based in the firm’s Düsseldorf office. His practice primarily focuses on antitrust and competition law matters, both at the national and international levels. He advises major national and international companies in their proceedings with the European Commission and the National Competition Authorities of EU Member States.