London’s maritime Insurance Joint War Committee adds Libya to list
Friday, March 4th, 2011Forget pirates for a second.
London’s marine insurance market has notched Libya into their knife handles as the king of delusion continues to kill off his own people with Russian arms.
Lloyds is part of a committee that sits deciding who’s deadly and who’s not is called the Joint War Committee.
Sounds ominous. Bit like 1943.
We take a look at shipping regularly (ok, very regularly) but the latest is just another warning about just how bad Libya has become – and just how quickly this situation is developing. It took the Joint War Committee almost two years to decide that Somalia was actually a problem. It took them less than two weeks to add Libya to the list.

Lloyds announced this afternoon that the Med around Libya was unsafe – meaning that if ships enter this region they face a higher than average chance of experiencing violence.
Malacca is off the list but Iran, Pakistan, Ivory Coast, Somalia and Yemen remain firmly unsafe according to the Joint War Committee.
But Lloyds merely cranks up the insurance premium based on their own warnings. As previously stated, could it be that underwriters secretly hope for conflict as this drives up their earnings?

