Iran Ship Attack Threatens to Reverse Plummeting War-Risk Insurance Premiums

War-risk insurance premiums for ships in the Middle East had dropped sharply in recent days, but a new attack on an Iranian vessel now threatens to send those costs climbing again. The incident tests the shipping-insurance market just as it appeared to be stabilizing. Insurers use war-risk premiums to cover vessels entering high-danger zones, such as the Persian Gulf. The sudden attack could undo recent market calm and raise costs for global shippers.