Tehran Is Using Insurance Rates as a Weapon of War

A girl watches a televised statement by Iran's new leader Mojtaba Khamenei on a mobile phone on March 12, 2026. AFP via Getty Images

Commentary

Iran has established de facto control over the Strait of Hormuz, despite the losses in its air, missile, and naval forces. It has achieved that by demonstrating the ability to inflict catastrophic costs on shipping that does not comply with its “regulations.”