Increased War & Strikes Rates - The Iraq War
The London Market War Risks Rating Committee sets the minimum rates for the provision of war & strikes risks cover by the Marine Insurance Market worldwide. The war in Iraq has resulted, since it's inception, in several changes in war & strikes rates for the region and there is every likelihood that there will be further changes to come.
The early signs are that the war will be relatively short and limited to Iraq alone and, with just a few exceptions, on the basis of these assumptions Norwich Union will not presently be levying additional premium under affected policies. We will review this position on a regular basis and will advise you of any material change in our approach.
The exceptions are single voyage policies and freight forwarder cargo policies where the actual cargo owner may be looking for alternative ways of obtaining cover which is not available under their own insurances. In such cases, enquiries on cover or rating for shipments into, or through the Middle East region, should be referred to your insurance adviser or Norwich Union Marine Centre as applicable.
For further information on current war risks cover, and up to date war and strikes rating schedules, please view our section on war.