India is considering additional insurance-related measures for exporters exposed to the Middle East conflict, concentrating on how to address higher trade, transport, and protection costs arising from disruptions around the Strait of Hormuz.

India examines credit insurance and trade support options

According to CNBC TV 18’s report, Commerce and Industry Minister Piyush Goyal said New Delhi is assessing interventions “on the insurance front” in consultation with the Export Credit Guarantee Corporation (ECGC) and other government agencies to help exporters manage elevated risk in West Asia. He said an inter-ministerial group is monitoring developments on a daily basis and engaging with exporting firms. Customs authorities have issued norms for handling export consignments that are returning to Indian ports because routes through the Strait of Hormuz and nearby sea lanes have been curtailed or closed.

According to Goyal, officials are studying how to support exporters whose cargo is already in transit but is now subject to increased ocean freight, air transport, and insurance charges tied to war-risk surcharges, rerouting, and longer voyage times. The discussions focus on maintaining trade flows while considering counterparty risk and potential payment delays in affected markets. Goyal told exporters that under the Export Promotion Mission, the government intends to provide “comprehensive support and handholding” to Indian exporters. He said Europe remains a major market for Indian agricultural and processed food products, under recent trade arrangements that apply near-zero or very low duties to a number of Indian items.

Goyal also referred to current and proposed trade agreements with partners including the European Free Trade Association states – Switzerland, Norway, Liechtenstein, and Iceland – as well as New Zealand, Australia, Japan, Korea, and ASEAN members, Oman, the United Arab Emirates, and Mauritius. According to Goyal, negotiations with Canada are progressing, while talks with the six-nation Gulf Cooperation Council have recently begun, developments that could affect regional trade patterns and related insurance needs over time. At the same time, Goyal reiterated that India will not allow tariff concessions on imports of wheat, rice, millets, corn, soybean, and sugar in any trade deal and will not extend duty concessions or market access to genetically modified foods in free trade agreements. These positions frame the policy backdrop for agricultural producers, food importers, and export-focused sectors as they reassess coverage for geopolitical and supply chain exposures.

South Korea introduces emergency trade and insurance measures

South Korea is preparing a set of emergency measures for small and medium-sized enterprises (SMEs) active in Middle East markets in response to rising operational and insurance risks across energy, marine, and trade credit lines. The Ministry of Trade, Industry, and Energy (MOTIE) said emergency export vouchers for SMEs with business ties to the Middle East will be available from this week. The vouchers, to be administered by the Korea Trade-Investment Promotion Agency (KOTRA), are designed to offset unplanned expenses such as return shipping and higher war-risk surcharges on cargo and vessels, according to The Korea Times.

KOTRA will also provide marketing assistance so affected firms can identify replacement buyers in other regions if they reroute shipments or pause sales into higher-risk markets. These changes may alter demand for marine, cargo, and credit cover as Korean exporters adjust route choices and buyer portfolios. Separately, Korea Trade Insurance Corporation is planning an emergency financial aid program for SMEs exporting to economies around the Strait of Hormuz, including the United Arab Emirates, Saudi Arabia, Iraq, Qatar, and Iran. The ministry said it will work with other agencies to “minimise risks for Korean companies” if the conflict persists and market access remains restricted, reflecting a larger role for public-sector guarantees alongside private risk-transfer capacity.

Ping An focuses on evacuation assistance and risk communication

In China, Ping An Insurance (Group) Company of China is coordinating a groupwide response to support corporate clients with staff and operations in Middle East conflict zones, with a focus on evacuation arrangements and real-time risk information. Ping An said it has brought together its property and casualty, life and health, and banking businesses to deal with the latest escalation in the region, focusing on corporate customers with personnel in locations assessed as high risk. Through the Ping An Global Emergency Assistance Service Center, the group has issued early‑warning messages and evacuation recommendations and has been gathering information on the whereabouts and status of customers’ staff, as well as their requirements in affected areas.

According to the company, the centre has issued 59 risk warnings, produced 23 risk analysis reports, and responded to 52 customer inquiries related to the conflict. The group said the assistance centre coordinated the evacuation of two employees of corporate clients from high‑risk areas in the Middle East within 24 hours. Ping An said it continues to monitor developments affecting its customers and can draw on groupwide and overseas resources to respond to emergency requests from Mainland Chinese citizens in conflict zones. On Jan. 12, the group issued a high‑risk advisory covering the Middle East and subsequently began sending regular alerts, conducting risk assessments, and preparing evacuation options for policyholders in the region. The actions by India, South Korea, and Ping An illustrate how governments, state-backed trade insurers, and large insurance groups are adjusting credit, cargo, and assistance arrangements in response to the evolving risk environment in the Middle East.