Insurers consider Latin rebrand for wartime cancellation notices after Hormuz backlash

London marine insurers are weighing whether to rename a standard wartime document, the notice of cancellation, after the form drew political backlash during the latest crisis in and around the Strait of Hormuz.

The discussion is happening through the Lloyd's Market Association, according to the Financial Times, which said one senior Lloyd's figure favored a Latin-style phrase such as denunciato recisiones. The aim is to soften the public image of a routine market tool that can signal a sharp change in cover or pricing during conflict.

Why insurers want a new label

The cancellation notice has become sensitive because it was used after the U.S. and Israeli attacks on Iran in February, when marine insurers re-rated or tightened cover for ships sailing near the Strait of Hormuz.

That move helped trigger criticism that insurers were effectively withdrawing support from trade through one of the world's most important energy routes. The FT reported that premiums for crossing the strait have remained elevated, reaching as much as 7.5% in recent weeks from about 0.25% before the war.

The dispute is largely about wording and perception rather than a total shutdown of insurance. Lloyd's has previously stressed that it was still insuring shipping in the strait, even as the conflict raised costs and uncertainty.

Trump angle and market pressure

The issue also touched Donald Trump. In March, he posted that he had ordered political-risk insurance and guarantees for maritime trade through the Gulf, but the idea did not progress.

That episode added to scrutiny of London marine insurers, whose pricing and notices are now being watched not just by shipowners and traders, but also by political leaders following the wider Hormuz crisis.

The FT said no formal decision on a rename has been announced. For now, the discussion remains internal, with insurers still facing pressure to manage risk without making routine coverage changes look like a deliberate withdrawal from Gulf trade.