Increased Demand for War Risk Insurance

Following India's Operation Sindoor, insurance companies have seen a spike in enquiries for war risk insurance quotes. However, underwriters are hesitant to provide coverage for landed property after kinetic actions have occurred, according to Sanjay Radhakrishnan, CEO of Edme Insurance Brokers.

Challenges in Providing Coverage

Standard cargo policies exclude war risks, necessitating separate coverage through additional premiums. Geopolitical tensions often lead to increased premiums, as noted by industry experts.

Global Monitoring and Risks

The London-based Joint War Committee (JWC) keeps a close eye on global geopolitical developments, updating high-risk areas which affects insurance coverage terms, potentially leading to higher rates or cancellations.