This special edition focuses primarily on War Risks in view of the recent dangerous escalation of tensions in the Arabian Gulf.
Amidst a series of high profile attacks on shipping and oil infrastructure in the region, along with increasingly hostile political rhetoric, this report provides an update on the latest security situation courtesy of London based advisory firm Herminius.
Whilst the Persian Gulf is very much in the spotlight, we should not forget the war and piracy threats to shipping in other parts of the world. The situation in Nigeria and the Gulf of Guinea continues to be difficult, conflicts are ongoing in Yemen, Syria and Libya, and the risk of detainment, arrest and confiscation remains high in a number of places, most especially Venezuela.
With all of this in mind, Richard Young, Head of Hull & Machinery and War at Beazley, explores the history of the War Risks Market, its present challenges, and how its future may look.
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