For (goods) policies taken out under Dutch law, the war risk can be terminated prematurely with a notice period of seven days. A period of two months applies to the strikers' risk (for the description of what falls under war and strikers' risk (zie de clausule M3 van het VNAB en BW 7:940). For (goods) policies taken out under English law, both the war risk and the strikers' risk can be terminated prematurely with a notice period of seven days. This is regulated by clauses.
The JWLA clauses describe the areas (high risk areas) for which exclusions apply for war and terrorism risks. Insurers often refer to these clauses in their policies.
The JWLA32 Guyana currently applies to the Red Sea area. If a ship wants to enter those areas seven days after cancellation of the policy, the ship owner can request new coverage (a quote). This may allow coverage to be restored, provided that the additional requirements and conditions are met. For example, extra premium, a higher deductible, or issuing warranties. The so-called BMP5 measures are often required, such as extra measures to recognise the risk and carry out risk analysis, to take physical measures (armed security guards, barbed wire or water cannons), to inform and train the crew, to report and, where possible, to cooperate with other ships and soldiers. Insurers will not always want to provide that extra coverage.
The JW2022-007a means that if one of the five major countries (United Kingdom, United States, France, the Russian Federation and the People's Republic of China) goes to war, the coverage can be terminated with 72 hours, instead of the regular 7 days from the JWLA.
The Association of Dutch Insurance Exchange VNAB has published a model clause for war and striker risk (the M3) specifically for cargo insurance, which is used by Dutch insurers.
If coverage is cancelled, it will only apply to the region or regions in question. Elsewhere, the coverage will be maintained in accordance with the conditions.
The Netherlands is one of the most open economies in the world. A scenario-analyse van DNB shows that the Netherlands, as a small open economy, is highly integrated into the global financial system. And is therefore particularly sensitive to the global increase in geo-economic fragmentation. In the event of disruption of global value chains, for example as a result of the situation in the Red Sea and the Strait of Hormuz, the Dutch economy will be severely affected. As a result, inflation in the Netherlands is rising faster than in other countries, imports and exports are declining more sharply and the Gross National Product is recovering more slowly.
The following applies to Dutch military personnel who are sent out on a peacekeeping or humanitarian mission or operations een speciale regeling.