12/18/2023, 1:59:46 PM
Highlights: Joint War Committee of Lloyd's of London has expanded the areas of the Red Sea that require extra cover against war risks. The decision was made after the attacks by Yemen's Houthi rebels. However, many ships are still choosing to travel through the Cape of Good Hope route to avoid the risk of war risks in the Red sea. The Joint War Committee is a body that brings together insurance companies from around the world to deal with the threat of war in the Middle East and North Africa.
The Joint War Committee of Lloyd's of London, which brings together maritime insurers, has expanded the areas of the Red Sea that require extra coverage against war risks. (ANSA)
The Joint War Committee of Lloyd's of London, which brings together maritime insurers, has expanded the areas of the Red Sea that require extra cover against war risks. This was stated in a statement issued after the attacks by Yemen's Houthi rebels. The decision raises policy prices for ships passing through designated areas. However, many companies are deciding to suspend transit through the Red Sea, opting for the Cape of Good Hope route.
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