U.S. NAVY
Members of a U.S. Navy visit, board, search and seizure
team and Coast Guard Maritime Safety and Security
Team 91112, embarked aboard the guided-missile cruiser
USS Gettysburg, respond to a suspect vessel in June
while operating in the Gulf of Aden as part of Combined
Task Force 151 (CTF 151). Gettysburg is serving as the
flagship for CTF 151, which was established to conduct
counter-piracy operations throughout the Combined Maritime Forces area of responsibility.
Shipowners typically would have three insurance
“policies” written on their fleet or on a vessel: marine
hull, marine P&I and war risk hull and war risk
P&I, the latter two usually written as one policy,
Fitzgerald said.
About 80 percent of the world’s war risk insurance
is written through the London market, where underwriters look to the advisory of excluded zones from the
Joint War Committee (JWC) of Lloyds, the world’s
largest and oldest insurance company, to adjust the
premiums as needed, according to Fitzgerald.
The JWC is made up of Lloyds’ underwriting representatives, who work with other maritime security
experts to decide what areas of the world are perilous
and unpredictable for inclusion on the list, officially
known as “Hull War Strikes, Terrorism and Related
Perils Listed Areas.”
As of June 11, Venezuela was added to the high-risk
area by the JWC, and the nation joins other trouble
spots such as Somalia, the Ivory Coast, Pakistan, Sri
Lanka, the southern coast area of Thailand, Georgia and
parts of Indonesia, Malaysia and the Philippines. ■
