Gulf Events Face War Insurance Crisis as U.S.-Iran Tensions Escalate

Event organizers across the Gulf are grappling with a growing insurance crisis: while cancellation coverage remains available, war risk insurance has dried up amid escalating U.S.-Iran tensions. The lack of war coverage is forcing organizers to either postpone major events or shoulder the financial risk themselves. Saudi Arabia, which has aggressively expanded its events calendar as part of its Vision 2030 strategy, is feeling the impact most acutely. High-profile gatherings—from sports tournaments to business conferences—are now under threat, as insurers increasingly exclude conflict-related risks. The situation underscores the broader economic vulnerability of the region, where geopolitical instability can quickly derail ambitious diversification plans. With no immediate resolution to U.S.-Iran hostilities in sight, the Gulf's events industry faces a precarious future, and organizers are being forced to rethink risk management strategies.