Additional Premium Areas/Iran Sanctions (7.098)

This circular updates the war risks additional premium areas that take effect from 24 August 2010 and warns members about the impact of Iran-related sanctions on cover and reinsurance.

London P&I sets out the amended list of areas attracting additional premium, including changes in the Middle East and Southern Red Sea/Gulf of Aden region. It also explains that members should expect changes to their insurance terms where trading involving Iran could expose London P&I or its reinsurers to sanctions.