RUMLA Commented on the Inclusion of Ukrainian and Russian Waters of the Black and Azov Seas in the List of Dangerous Zones

17/2/2022

On February 15, the Joint War Committee of the Lloyds Market Association (LMA) added under its circular JWLA-028 the Ukrainian and Russian waters of the Black and Azov Seas into the list of Hull War, Piracy, Terrorism and Related Perils Listed Areas.

President of the Russian Maritime Law Association (RUMLA) Konstantin Krasnokutskiy gave his comment on the situation for the journalists of the TV channel “Russia-24”.

“The Lloyds Market Association (LMA) is a non-profit and non-governmental association consisting of insurance professionals. The Joint War Committee consists of the representatives of insurers from Lloyd’s Markets and the International Underwriting Association of London (IUA) and represents the marine insurers of war-related risks. From time to time, the Committee updates and distributes the list of zones entering which shipowners are required to notify the insurers. The inclusion of certain zones in the list is a prerequisite for an individual amendment of the terms of insurance contracts between insured and their brokers or insurers”, the head of RUMLA noted.

President of the Association also highlighted the following. As regards the Ukrainian and Russian waters of the Black and Azov Seas, the Committee noted that, despite the military equilibrium, as per the current assessment, it was decided to issue circular JWLA-028 as a precautionary measure. There were no maritime incidents, but the probability of an incorrect assessment is obvious. That is why the Committee held it necessary to notify insurers about voyages to these zones.