Will Trump’s shipping insurance plan work?

More than a thousand ships are stranded outside the Strait of Hormuz, bobbing in the water. A big reason? Insurance. War insurance premiums have skyrocketed since the war with Iran began. It’s an add-on that covers things regular insurance doesn’t, like missile strikes. And shippers don’t want to foot the bill or put their crews at risk. Cue the traffic jam. <br /><br />On today’s show, how a critical trade chokepoint became the parking lot of the sea. And taking stock of President Trump’s plan to offer reinsurance to get these ships sailing again.<br /><br /><strong>Related episodes: </strong><br /><a href="https://www.npr.org/2024/04/04/1197963562/the-indicator-from-planet-money-russia-shadow-fleet-sanctions-04-04-2024" target="_blank">How the 'shadow fleet' helps Russia skirt sanctions</a><br /><a href="https://www.npr.org/2025/06/24/1254640146/will-iran-block-the-strait-of-hormuz" target="_blank">Will Iran block the Strait of Hormuz?</a> <br /><br /><em>For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at </em><a href="http://plus.npr.org/" target="_blank"><em>plus.npr.org</em></a><em>.</em> <em>Fact-checking by </em><a href="https://www.npr.org/people/1268825622/sierra-juarez" target="_blank"><em>Sierra Juarez</em></a><em>. </em><em>Music by </em><a href="https://dropelectric.bandcamp.com/" target="_blank"><em>Drop Electric</em></a><em>. Find us: </em><a href="https://www.tiktok.com/@planetmoney" target="_blank"><em>TikTok</em></a>, <a href="https://www.instagram.com/planetmoney/" target="_blank"><em>Instagram</em></a>, <a href="https://www.facebook.com/planetmoney" target="_blank"><em>Facebook</em></a>, <a href="https://www.npr.org/newsletter/money" target="_blank"><em>Newsletter</em></a><em>. </em> <br /><br />See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.<br /><br /><a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>