London marine insurers widen high risk zone in Mideast Gulf as conflict in region escalates

LONDON, March 3 (Reuters) - London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday.

Guidance from the Joint War Committee (JWC), which comprises syndicate members from the Lloyd's Market Association (LMA) and representatives from the London insurance company market, is watched closely and influences underwriters' considerations over insurance premiums.

The JWC added waters around Bahrain, Djibouti, Kuwait, Oman, Qatar waters to high risk areas, the statement showed.