As described in our circular No.22-025-1 dated 8 February 2023 (“[Revised] Excess War P&I reinsurance for 2023/24 Policy Year”), there is an amendment to the level of the Excess War P&I cover for 2023/24 Policy Year available for vessels operating in Russian and certain other Belarusian and Ukrainian waters due to the current conflict. For vessels transiting and/or calling within the waters defined below, cover is sub-limited to USD 80m any one event, each vessel. In accordance with this change, the P&I War Risks Clause is amended as attached with effect from 12 noon GMT on 20 February 2023.

1. All Russian waters, including their coastal waters up to 12 nautical miles offshore
   * In respect of an Entered Ship insured with Japanese war risks underwriters, for the waters of the Sōya Strait and/or the waters surrounding the Chishima Islands (Kuril Islands), less than 12 nautical miles offshore of islands claimed by Russia, the Excess War Risks P&I insurance will follow the terms of the Japanese war risks insurance.


2. Europe
   
   1. Sea of Azov and Black Sea waters plus inland waters enclosed by the following boundaries
      
      1. On the west, around Romanian waters, from the Ukraine-Romania border at 45°10.858'N, 29°45.929'E to high seas point 45°11.235'N, 29°51.140'E
      2. thence to high seas point 45°11.474'N, 29°59.563'E and on to high seas point 45°5.354'N, 30°2.408'E
      3. thence to high seas point 44°46.625'N, 30°58.722'E and on to high seas point 44°44.244'N, 31°10.497'E
      4. thence to high seas point 44°2.877'N, 31°24.602'E and on to high seas point 43°27.091'N, 31°19.954'E
      5. and then east to the Russia-Georgia border at 43°23.126'N, 40°0.599'E
   
   
   2. All inland waters of Ukraine
   
   
   3. Inland waters of Russia within the following areas:
      
      1. Crimean Peninsula
         
      2. River Don, from Sea of Azov to vertical line at 41°E
         
      3. River Donets, from River Don to Ukraine border
         
      
      
   4. All inland waters of Belarus south of horizontal line at 52°30'N
   
   

   Cover is maintained with a limit of USD 500m for all vessels whilst trading in waters other than those as defined above.