Berkshire on Hormuz Strait insurance: Price is everything, and US military escort is the prerequisite

Golden Ten Data reported on May 3 that when asked about when and how to provide insurance for ships in the Strait of Hormuz, Berkshire Vice Chairman responsible for insurance business, Ajit Jain, gave a concise reply, "The short answer is—it depends on the price." Jain stated, "We are indeed participating in a small proportion of an already established project to provide insurance for ships in the Strait of Hormuz. However, no transactions have been finalized yet." Jain also pointed out that among the underwriting conditions of the project, US Navy escort for the ships would be an important prerequisite. "If we can meet our own underwriting conditions, we will underwrite such risks at a price level we deem appropriate."