London marine insurers widen high-risk gulf zone following conflict

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".