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explode outside of the Black Sea, most notably off the coast of Turkey, in the Mediterranean, off the coast of North Libya, and off the west coast of Africa. For some, this might mean there is a different insurer for the claim than the one that provided breach cover for the voyage within the Black Sea. It is therefore essential that the scope of both covers is considered closely, and that they dovetail to ensure that there is no risk of gaps in cover%u201d.This is the structural problem at the heart of McKeith's warning. An owner trading near the Black Sea may hold a standard war risk policy with one insurer alongside a separate breach cover arranged specifically for any voyage into the zone itself. If those two policies are not carefully aligned, an incident occurring outside the defined breach area may fall between them. The gap is the product of two policies that were never tested against each other.Cover outside traditional conflict zonesThe instinct to reduce war risk cover when vessels are not trading in a recognised high-risk area is understandable. It is also, McKeith argues, increasingly difficult to justify:%u201cSome owners are choosing to have limited war risk cover because they know they're not trading in traditional highrisk areas. For example, in the Black Sea, some believe that they can skirt defined high-risk areas to avoid incidents. However, floating mines, drones, and underwater divers could still target your vessel regardless of its cargo or destination%u201d.The threat model that underpinned war risk underwriting for most of the past 30 years was built around geography. A vessel either was or was not inside a recognised war risk zone, and its cover was arranged accordingly. What the Russia-Ukraine conflict has demonstrated is that the geography of risk is not fixed; weapons and tactics do not observe the boundaries that insurers draw on a map.The same dynamic is present in the Middle East, where access to the Strait of Hormuz has been constrained by continuing tensions, and the threat to vessels in and around the Gulf has become more varied.Shipowners and brokers need to ask themselves today what is actuallyincluded in their war risk cover. For many, the answer is simply a standard policy that is ticked off as part of their annual insurance premiums.%u201cWe are seeing a similar story play out in the Middle East as geopolitical challenges continue to limit access to the Strait of Hormuz. Some shipowners know they aren't entering a high-risk area like the Black Sea or the Middle East Gulf, so they do not scrutinise their war risk cover. However, the emergence of new risks means that we are urging owners and brokers to take a closer look at their war risk cover and ensure they have adequate cover in place%u201d. Renewal cannot be the starting pointGetting the scope right is only half the challenge; getting the timing right is the other. War risk policies are typically reviewed at renewal, and those conversations tend to be shaped by whatever is happening in the geopolitical environment at that moment. In periods of relative calm, owners press for lower premiums and narrower cover. In times of heightened tension, they move to understand the extent of their existing coverage. As McKeith notes, neither moment is the right one for that conversation to start.%u201cShipowners and brokers need to ask themselves today what is actually included in their war risk cover. For many, the answer is simply a standard policy that is ticked off as part of their annual insurance premiums%u201d.The practical timeline also matters. War risk premiums have risen since the onset of the Russia-Ukraine conflict in 2022 and the recent deterioration in security in the Middle East, and there is little expectation of a near-term return to the conditions that preceded those events.%u201cThe ongoing geopolitical tensions in the Middle East Gulf region mean that it is unlikely we will see a return to low premiums for war risk cover in the near future. So, while it might still be a while off until owners need to renew that cover, they need to start considering today whether their war risk cover will be adequate for the year ahead, particularly as vessels face greater exposure outside of traditional high-risk areas%u201d.For McKeith, the underlying principle is straightforward: %u201cThat is the whole point of marine insurance; it is a check against the unexpected%u201d.May 2026 279