War Risk Trading Warranties

War-risk trading warranties are clauses in a hull and machinery policy that exclude or restrict cover when the ship trades to specified war-risk areas, requiring the assured to notify underwriters and pay additional premium to remain covered. They operate through Institute trading-warranty wordings (the Institute Warranties and their war-risk equivalents) that list excluded or conditional waters; entering a listed or warranted area without declaration can void hull cover for that voyage. The areas track the Joint War Committee listed areas, and breach is held covered only if the assured declares and pays the quoted AP.