This is a ballsy power play by Trump

Others insurers followed. That collapsed commercial shipping traffic through Hormuz, which choked oil shipments out of the Middle East.

Trump doing this means the DFC has the chance to displace Lloyd's as the big dog in this game, when they have been the lock-in player for many years.

It also frees up all the oil that was getting trapped there, heading off shortages and keeping the energy market alive.

And why not? It's the American navy that sunk the Iranian ships that were harassing tankers. And the American Navy -- at least for now -- will keep those tankers safe.

It's a huge reassurance to allies -- both oil producers and oil consumers -- that our campaign in Iran isn't going to sink their economies. And it allows America to be choosy about traffic in the Strait.

It also potentially means billions of dollars in insurance premiums at wartime rates going to America instead of the UK. And those rates are STILL going to be cheaper than what shippers were getting.

This is a ballsy power play by Trump.

Lloyd's of London was the gold standard for maritime insurance policies until just a day or two ago when they started cancelling policies or jacking them up 3-5X. Others insurers followed. That collapsed commercial shipping traffic through… https://t.co/C2Oa6PhC63

— Steve Skojec (@SteveSkojec)March 3, 2026