Red Sea Shipping Insurance Rates Surge Following Houthi Missile Attack
Additional War Risk Premium (AWRP) rates for the Red Sea rose to 0.75% of hull value on March 30, 2026, following a Houthi missile attack against Israel on Saturday. The Yemen-based militants targeted sensitive military sites in southern Israel, their first such strike since a wider regional conflict involving Iran began in February. Insurance brokers reported that the resurgence of Houthi activity has heightened fears of renewed attacks on maritime vessels transiting the Bab el-Mandeb Strait.
Date: March 30, 2026
Location: Yemen
Conflict: Red Sea Crisis
Category: missile
Severity: MEDIUM
Source: Argus Media