News and publications NewsConsequences of the Middle East Conflict for War Risk CoveragePublished: 12 March 2026NewsIranWar riskFollowing our previous communications regarding the escalation in the Middle East, this article provides further details on the implications for War Risk insurance. It is important to distinguish between primary War Risk coverage and Excess P&I War Risks coverage: Primary War Risk Coverage: The Joint War Committee (JWC) periodically defines the Listed Areas presenting heightened war risks. For navigation in these areas, a separate primary War Risk insurance policy is generally required in most cases, typically up to the vessel’s value (in line with the Hull & Machinery insurance). Excess P&I War Risks: P&I coverage provides Excess War Risks protection for losses exceeding the insured amount under the primary War Risk coverage (where required based on the JWC Listed Areas). For members with NNPC on a mutual basis, this Excess P&I War coverage for the Persian Gulf remains in place for the time being. For fixed premium insurances, this Excess coverage must be purchased separately. On 3 March 2026, the JWC amended the Listed Areas in response to developments involving Iran (see JWLA-033). Key changes include: Newly added: Bahrain, Djibouti, Kuwait, Oman, and Qatar; Red Sea & Gulf of Aden: waters south of 18°N (including Yemen); Persian/Arabian Gulf & Gulf of Oman: entire area, including the Strait of Hormuz; Levant: Israel and Lebanon; Indian Ocean: expanded zones near the coasts of Somalia and Pakistan. For the full and up-to-date list of Listed Areas, please refer to the Joint War Committee Circular (available via www.lmalloyds.com or www.iua.co.uk). As a result, various War Risk insurers have adjusted their coverage areas and introduced additional premiums. Without adequate primary coverage, a gap in protection arises: the Excess P&I War coverage only activates after the market-standard primary War Risk coverage has been fully exhausted. We