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Persian Gulf: War risks revisited

21 June 2019

As a result of increasing tension in the Persian Gulf area following recent attacks on two tankers, War Risk underwriters are charging additional premiums (AP) for calls to the Arabian Gulf/Gulf of Oman. Some underwriters are charging a flat rate for all tonnage operating in the area, while others are differentiating based on the type of tonnage, flag and port of call. AP is typically charged as a percentage of the hull value. Underwriters day top value is at present 1%.

Toby Stephens

26 August 2019

Toby is HFW’s Singapore Head of Shipping and APAC Head of our global Crisis Management team. Toby’s work involves managing major marine and energy disasters, which are often complex, involving a number of interrelated actions in a number of jurisdictions. He is also recognised for insurance coverage and other marine and energy related commercial and contractual disputes.  Toby has practical experience of working as a marine surveyor in Houston. He has also acted as head of the legal team at a leading Lloyd’s syndicate dealing with marine, energy and war risks.  Toby is qualified in England and Wales and joined HFW as a solicitor in 2001. He became a Partner in 2007 and relocated from our London office to Singapore in 2017.