War Risk Premium

"Marine war risk insurance provides protection against risks arising from war, conflict, terrorism, and piracy. It is a vital extension to standard marine insurance, especially for operators navigating high-risk or politically unstable regions.

This type of insurance can apply to all types of marine operations—from single-vessel owners to large international fleets—and covers a wide range of vessels.

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The Joint War Committee (JWC), a body of Lloyd’s and IUA underwriters, designates official war risk zones (JWC Listed Areas), which are critical in determining coverage and premium implications"

Source: https://jameshallam.co.uk/war-risk-insurance/