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Marine insurers widen high-risk zone in Gulf as conflict escalates - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Marine insurers widen high-risk zone in Gulf as conflict escalates Marine Middle East/Africa Mar 3, 2026 (Reuters) – London’s marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday. Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd’s Market Association and representatives from the London insurance company market, is watched closely and influences underwriters’ considerations over insurance premiums. The JWC added waters around Bahrain, Djibouti, Kuwait, Oman and Qatar to high-risk areas, the statement showed. The JWC agreed to revise the areas at a meeting on Monday “in light of recent events,” the committee’s secretary Neil Roberts said in a statement, adding that the geographical areas were among those assessed where vessels were at “increased risk of war-related perils.” Gulf war risk premiums have risen fivefold in recent days compared with a week ago – before the U.S and Israel began their airstrikes on Iran – adding hundreds of thousands of dollars in extra costs for every shipment. Expanding the high-risk area of waterways to connect with other parts of the Gulf region was viewed as a way to close gaps where war‑risk insurance had not previously applied, leaving ships exposed without adequate cover, industry sources said on Tuesday. “The expanded designation (by the JWC) … helps stabilize global supply chains by reducing uncertainty around the movement of energy, commodities and essential goods,” said Munro Anderson of marine war insurance specialist Vessel Protect, part of Pen Underwriting. Related News Zurich stock drops after Beazley financing move March 3, 2026 Zurich inks deal to buy Beazley for $10.8B March 3, 2026 Iran conflict to complicate insurance in region: Morningstar March 3, 2026 Fidelis to buy out founding investor for $163M March 3, 2026 Gulf airport crossfire prompts global flight suspensions March 3, 2026 Insurers’ earnings plunge 90% after convective storms March 3, 2026 Failed extortion attempt ends in massive data leak March 3, 2026 Iran conflict strands 150 ships, damages five tankers March 3, 2026 MS Re names Bruniecki as new CUO March 3, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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