Ports: exclusion zones

The Joint International Underwriting Association/ Lloyd's War Risks Committee has declared all port...

The Joint International Underwriting Association/ Lloyd's War Risks
Committee has declared all ports and places in the Persian Gulf an
exclusion zone for cargo war risks. The decision effectively means any
cargo travelling to the Gulf on new business faces serious financial
penalties if it wants to obtain war risk cover. Parties can either carry
the risk themselves or face negotiating extremely high premiums with
underwriters. The War Risks Committee will continue to meet at least once
a week to