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Maritime piracy: extension of the risk zone in the Gulf of Guinea

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Magazine Issue: 
The pandemic risk, insurers’ future Eldorado [3]
Magazine date: 
Jul 2020

piraterie maritimeThe Joint War Committee (JWC), which includes representatives of the Lloyd's and the International Underwriting Association of London (IUA), have decided to expand the risk zone in the Gulf of Guinea. Henceforth, this area extends from the border between Togo and Ghana, to Cap Lopez near Port Gentil (Gabon).

This decision will have a direct impact on the costs of marine insurance [4], whose premiums are likely to increase. Shipowners who are required to sail in the Gulf of Guinea have to obtain the approval of their insurer before they can enter these waters.

Thu, 24/09/2020 - 16:03

Source URL: https://www.atlas-mag.net/en/article/maritime-piracy-extension-of-the-risk-zone-in-the-gulf-of-guinea

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[4] https://www.atlas-mag.net/en/article/marine-insurance-market-on-a-downward-cycle