The London Insurance Market Lloyd's Market Association issued a statement saying that the Joint War Commission has expanded the Black Sea reporting area list. Russian and Ukrainian coastal waters must still be included in the scope of the report, while navigation within the territorial waters of neighboring countries is not required to be reported. According to JWC rules, shipowners must notify the insurance company before entering the listed areas, otherwise the insurance may be denied compensation. This adjustment comes at a time when shipping risks in the Black Sea continue to escalate — after a Greek-managed tanker was recently attacked by drones off the Russian coast, the Black Sea port war insurance premium has climbed to about 1% of the ship's value, the highest level since 2023; the validity period of insurance quotes has also been shortened from 48 hours to 24 hours or even updated instantly.

The London Insurance Market Lloyd's Market Association issued a statement saying that the Joint War Commission has expanded the Black Sea reporting area list. Russian and Ukrainian coastal waters must still be included in the scope of the report, while navigation within the territorial waters of neighboring countries is not required to be reported. According to JWC rules, shipowners must notify the insurance company before entering the listed areas, otherwise the insurance may be denied compensation. This adjustment comes at a time when shipping risks in the Black Sea continue to escalate — after a Greek-managed tanker was recently attacked by drones off the Russian coast, the Black Sea port war insurance premium has climbed to about 1% of the ship's value, the highest level since 2023; the validity period of insurance quotes has also been shortened from 48 hours to 24 hours or even updated instantly.