The impact of the ongoing war in West Asia is being felt across the world. Beyond geopolitics and energy markets, the repercussions are being felt in boardrooms, export houses and logistics companies. Over the past few weeks, there has been a noticeable shift in behaviour among exporters and importers. Insurance policies that were filed away are now being reopened. Clauses that were once assumed standard are now being finely studied.

The question many are asking is simple: Are we really covered if things escalate further? And for many, the answer is not as straightforward as they had thought earlier.

The biggest misconception is around “all-risk” policies.