Quick Statement from Neil Roberts, Head of Marine and Aviation at the Lloyd’s Market Association and secretary of the Joint War Committee:
“The London insurance market’s Joint War Committee met this morning to review recent developments between Israel and Iran.
Whilst the picture is concerning, maritime commerce is not currently being targeted directly by Israel or Iran and the seas remain open although the possibility of collateral damage and further Houthi intervention are factors. Insurers are very aware that the situation is still unfolding with no clear outcome discernible.
The Listed Areas have been left unchanged as ships calling or transiting most of the Middle East already have to notify underwriters, who can then assess such voyages on their merits.
The London market continues to support trade by providing coverage options for legitimate marine risks in the region. The situation will be closely monitored as things may change rapidly.”
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