The British marine insurance market has widened the area in the Red Sea it deems as high risk following recent attacks on ships by Yemen’s Houthis, according to a July 29 advisory.
– The London marine insurers excluded Egyptian waters from their high-risk areas.
– Guidance from the Joint War Committee, which is made up of syndicate members from the Lloyd’s Market Association and representatives from the London insurance company market, is closely watched and influences underwriters’ considerations of insurance premiums.
https://aje.news/xe5e7f?update=4816253