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In July 2019 the British-flagged oil tanker STENA IMPERO was seized by the IRGC-QF and held for two months. Iran accused the vessel of colliding with a fishing vessel, and denied that the seizure was an act of retaliation for the British Royal Marines’ involvement in the detention of the Iranian tanker ADRIAN DARYA-1, which was detained off Gibraltar whilst carrying 2.1 million barrels of Iranian crude on suspicion of breaking EU sanctions on Syria, and blacklisted by the US.
In May 2022 the IRGC-QF seized two Greek-flagged tanker vessels, the DELTA POSEIDON and PRUDENT WARRIOR. This was in retaliation against the US for confiscation of Iranian oil onboard the Iranian-flagged LANA in April that year. Both the DELTA POSEIDON and the PRUDENT WARRIOR were released in November 2022.
On 27 April 2023 the oil tanker ADVANTAGE SWEET was seized and remains detained by the IRGC-QF. Reports suggest that this was in retaliation to the US seizing 980,000 barrels of Iranian crude oil onboard the SUEZ RAJAN, which has recently been discharged in the US and forfeited by the owners according to recently unsealed court filings in the Washington federal Court.
Most recently on 5 July 2023, the US Navy destroyer USS McFaul prevented attempts to seize two tankers, firstly the TRF MOSS, and then the Bahamas-flagged, Greek-owned, US-operated oil tanker, RICHMOND VOYAGER, at which shots were fired by an Iranian naval vessel hitting the vessel’s hull near the crew living spaces, whilst on route to Singapore from Saudi Arabia.
As a direct result of the actions by the IRGC-QF, the US has increased its military presence and rotation of ships and aircraft patrolling in the region in an attempt to ensure the safe passage of vessels. In August the UK and US authorities issued warnings to shipping in the Middle East to avoid Iranian waters as a precaution, amid the heightened tensions.

Insurance implications
The Lloyd’s Market Association Joint War Committee, which monitors and lists areas where shipowners are required to notify underwriters of voyages, has included the Strait of Hormuz since 2018, and considers that tankers transiting the area are specifically at risk of harassment.
Negotiations for the release of vessels and cargo seized by the IRGC-QG have generally been conducted via Iranian diplomatic channels in third-party countries such as Sweden, and can take place over several months. During this time, careful consideration needs to be given to ascertain whether there has been a loss covered under any one of the relevant policies of insurance for the property interests, which may or may not be triggered depending on the facts and the breadth of coverage.

There are several factors which will inevitably come into play in any policy coverage assessment.

https://kennedyslaw.com/en/thought-leadership/article/2023/seizure-in-the-straits-of-hormuz-implications-for-insurers/