London Insurers Expand High Risk Zones in Gulf
The Joint War Committee added Bahrain and other nations to its high risk list on Tuesday. This move follows rising premiums after recent regional airstrikes.
The London marine insurance market has significantly expanded its designation of high-risk zones within the Middle East Gulf following a sharp escalation in regional conflict. An advisory issued on Tuesday by the Joint War Committee (JWC) confirmed that the geographical scope of areas deemed at risk for war-related perils has been broadened to reflect the deteriorating security environment.
The JWC, which includes members from the Lloyd’s Market Association and representatives from the broader London insurance company market, officially added the waters surrounding Bahrain, Djibouti, Kuwait, Oman, and Qatar to its list of high-risk areas. This decision follows a meeting held on Monday to assess the safety of maritime transit in light of recent military actions.
