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Lloyds - Insurers raise Mideast war risk premiums Print E-mail

MARINE insurers in London have raised war risk premiums for merchant ships visiting Lebanese and Israeli ports, writes John Zaracostas in Geneva.

This is because of the intensifying conflict and naval blockade of Lebanese ports which the United Nations has branded as being in breach of international law.

We have raised our additional premiums and I am pretty certain all the other syndicates have done the same,Richard Young, a marine underwriter with Atrium in London, told Reuters.

There are compelling reasons to do so.

He said single voyages to Lebanese ports had been raised sharply by a factor of about 10 from 0.025% of hull value to 0.25%.

The UN emergency relief co-ordinator, Jan Egeland, meanwhile said the blockade of Lebanese ports and trade in the Palestinian territories breached international law .

The law is simple,he said. Civilians must be shielded. Civilians are protected persons. Civilian infrastructure is protected.

Sealing off borders, sealing off harbours, bombing airports first and foremost means civilians cannot go, innocent third parties cannot receive goods, cannot travel, cannot get to health facilities, cannot get their daily needs.

It is wrong. It is in violation of international law and of common sense.

Concerning the escalating conflict in the Gaza Strip, the UN official told reporters there were more than 500 road blocks and severe access restrictions.

We have hundreds of containers, we have hundreds of consignments being trapped at border crossings at the moment that cannot get through into the Palestinian territories and especially Gaza,he said.

Mr Egeland pleaded for all sides to pull back from the brink. We must ask everyone who can influence [the armed] groups, everyone who can influence Israel to say stop it,he continued.

You have an obligation to care for the civilian population to protect the civilian population and not to drive full speed towards the abyss.

In view of the heavy damage to the Palestinian civilian infrastructure, the social crisis in the Palestinian territories risked turning into a humanitarian crisis, he warned, with 1.4m civilians caught in the crossfire between armed groups and the Israeli army.

With the collapse of social services and shortage of food, water and a deteriorating health and sanitation situation, Mr Egeland called on donor countries to come forward and commit more funds to this years emergency appeal for Palestine for $385m, which so far is only 31% funded.
 

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