Hull War Risk Insurance 2026: The 10 Drivers That Move Price and Terms
War risk hull cover in 2026 is less about “annual insurance” and more about whether a specific voyage is inside a listed area, what the current threat picture looks like this week, and how fast underwriters can reprice or cancel cover. The practical result is that routing, port selection, AIS and security posture, and even who you are trading with can flip war cover from routine to urgent, with additional premium decisions sometimes being reviewed daily during escalations.
| # | Driver | Cost impact | Moving price or terms | What you can control | What brokers and underwriters ask for |
|---|---|---|---|---|---|
| 1 | Listed Area status Joint War Committee areas |
High | Entering a listed area commonly triggers notice and an additional premium negotiation for that voyage window. | Route, port choice, and whether you can avoid listed coordinates. | Route and port call list, ETA and ETD, coordinates, time in area, requested cover window. |
| 2 | Threat tempo and recent incidents attack frequency and type |
High | Fast-moving incidents can tighten terms and push rapid repricing during escalation periods. | Timing, routing, and delaying or re-routing where feasible. | Departure window, security advisories used, routing rationale, contingency plan. |
| 3 | War cover duration requested often short windows |
Medium | Cover is often priced for defined days; extensions can reprice if delays occur. | Minimize time in risk waters, reduce waiting and anchor exposure. | Requested days, buffer days, delay scenarios, extension approach. |
| 4 | Cancellation and termination mechanics how fast cover can change |
Medium | Clause mechanics can affect capacity and underwriting comfort, especially when the risk picture shifts quickly. | Decision points and internal escalation tied to notice timelines. | Clause set applied, notice method, operating plan if terms change mid-voyage. |
| 5 | Vessel value and limits premium is typically % of value |
High | When priced as a percentage of insured value, higher values raise premium dollars and can tighten deductibles. | Keep declared values consistent and avoid late value changes that trigger re-quoting. | Agreed value, limits, deductibles, any value changes, attachment details. |
| 6 | Flag, ownership, operator profile perceived targeting and governance |
Medium | Perceived targeting risk and compliance posture can influence insurer appetite and terms. | Clear documentation, consistent compliance posture, stable trading narrative. | Ownership and management chain, trading pattern, compliance statements if relevant. |
| 7 | Specific ports and counterparties port-by-port risk perception |
High | Some ports, terminals, or counterparties drive higher scrutiny and can shift pricing even within the same region. | Port selection, terminal selection, avoiding avoidable high-friction counterparties. | Named port, berth area if known, agent and terminal details, cost allocation clauses. |
| 8 | Cargo type and sanctions sensitivity trade scrutiny lever |
Medium | Sanctions-sensitive cargoes and trades can increase underwriting scrutiny and affect willingness to quote. | Documentation quality and trade transparency. | Cargo description, documentary trail, sanctions screening approach, parties in the chain. |
| 9 | Security posture and procedures BMP, watches, hardening |
Medium | Credible measures can improve comfort and sometimes terms, especially where threats include drones or boarding risk. | Security plan, watches, routing discipline, documented procedures. | Measures in place, advisory services used, bridge procedures, reporting discipline. |
| 10 | Loss history and claims experience capacity and deductibles |
Low | Claims experience can influence deductibles and appetite, but usually matters less than geography and threat tempo. | Present clean claims narrative and improvements implemented. | Claims summary, corrective actions, condition surveys if requested. |
War Risk Trip Cost mini calculator
This is a straight-line estimate: Premium = Hull value × (Rate% ÷ 100). Daily cost = Premium ÷ Days. Underwriter minimums, brokerage, taxes, and special conditions are not included.
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Potential Questions for Brokers
- What exact area definition are you quoting against (named port and coordinates), and is it a listed area trigger in the current JWC list Ask for the written area wording, not a shorthand label.
- What is the cover period assumed, and what happens if we overrun the window due to delay or congestion Get the extension and repricing mechanics in writing.
- What risks are included and excluded under the war wording for this voyage Confirm whether drones, missiles, mines, malicious acts, and political motive wording are addressed.
- What cancellation, automatic termination, or notice provisions apply to the voyage cover Know the notice timeline and who must receive it.
- Are there any warranties or conditions tied to security procedures, routing, or reporting Confirm any BMP requirements, watchkeeping, or advisory service expectations.
- Are there AIS related requirements or prohibitions for cover to respond Get clarity on what is acceptable in security driven situations and how to document it.
- What documentation will you require pre-voyage to bind, and what evidence will matter if there is an incident Route plan, port call list, security plan, advisory notes, and logs.
- Are there any sanctions or counterparty restrictions that could affect whether the market will quote or pay a claim Ask what screening is assumed and who is responsible for it.
- How is the additional premium calculated (rate basis), and what values and deductibles are assumed Confirm hull value, insured limits, and deductible treatment.
- What is the quote validity window In high-tempo situations, quotes can be short-lived. Put a clock on it.
Listed Areas and clause library
Joint War Committee home and Listed Areas reference
Listed Areas maps and circular PDFs
Standard clause PDFs
Institute War and Strikes Clauses, Hulls, Time (1983)
Common market war and strikes wording used alongside hull time clauses.
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Institute Time Clauses, Hulls (1983)
Core hull wording frequently referenced with war clause sets.
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London Blocking and Trapping addendum
Addendum used with war and strikes clauses for certain blockage and trapping situations.
Open
Clause wording varies by market and placement. Always confirm the exact clause set attached to your policy and any endorsements added for the voyage.
Optional reference: Club view of war terms for 2026
The Swedish Club circular, War Risk Insurance Terms for 2026
Circular page summarizing the 2026 war risk terms and enclosures.
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Club Clauses for War Risk 2026 (PDF)
The Swedish Club clauses PDF referenced by the circular.
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This is a club presentation of war terms for the 2026 period. It is useful as a reference point, but it is not a substitute for your policy wording and endorsements.
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