Seatrade Maritime: London marine insurers extend Middle East war risk zones

The Joint War Committee (JWC), comprising members of Lloyd’s marine insurance syndicates and representative from the London market, have added new regions of peril and extended existing ones as a result of Middle East hostilities. The new areas include Bahrain, Djibouti, Kuwait, Oman and Qatar.

Regions where cover has been ‘amended’ include parts of the Red Sea, stretches of the Pakistan coast, and areas to the east with extensions down to the Somalia border. Full details of the extended areas have been issued in a Joint War Committee Circular, numbered JWLA-033, and dated 3 March.  

London’s JWC represents hull and machinery insurers who apply additional premiums to areas considered to present additional risks including piracy, terrorism, and war. Shipowners with vessels trading in so-called ‘Listed Areas’ are obliged to notify insurers of voyages in regions of heightened risk and must pay additional premiums for those deployments. If they fail to do so, their hull and machinery cover is invalidated. 

Named countries include all ports and coastal waters extending twelve nautical miles from the coast. Named ports including all facilities and terminals across areas controlled by the specific port authority as well as offshore terminals and facilities in waters extending twelve nautical miles offshore.

A full list of details can be found on the Lloyd’s Market Association and the International Underwriting Association of London websites.