London's marine insurance market, represented by the Joint War Committee (JWC), has broadened the high-risk zone in the Red Sea due to an increase in attacks on commercial ships. The zone now extends to 18 degrees north from the previous 15 degrees north, reflecting the heightened missile range. The move aims to alert insurers, considering the risks demonstrated by the rerouting of ships in response to attacks by Iran-backed Houthi militants in Yemen. War risk premiums for shipping through the Red Sea have risen substantially, reaching 0.5%-0.7% of a ship's value from 0.07% in early December. Insurers and commercial operators now face additional costs as vessels navigate through the region. The JWC's quarterly review also included a slight adjustment to the high-risk zone near Eritrea.