Mumbai, June 15 -- The US-Iran deal to end the war in West Asia is likely to lead to some immediate correction in insurance pricing as supply chain pressures ease and aviation picks up, industry expert said. However, a broader normalization of pricing could take some time to materialize as marine policy covers are expected to remain under stress, they said.

The immediate correction will largely be a knee-jerk correction as movement resumes through the Strait of Hormuz, but material softening would be dependent on several factors such as the longer term peace conditions, volume of movement through the Strait, and the amount of claims received by insurers till the time the policies come up for renewal, the experts said.

"We will probably ...