Lloyd's indicated that "despite recent developments, underwriters have long been aware of the situation." A spokeswoman for the Lloyd's Market Association, which represents underwriters in the Lloyd's market, noted: "Somalia has been on the lists for both the market's Joint Hull and Joint Cargo Committees for a considerable period of time. In terms of the cargo committee, Somalia is on the highest possible risk grade, but this decision came even before the recent events."
She added: "The underwriters in the market will use their individual judgment on risks and will work with their clients to offer coverage when and wherever possible. The decision as to whether to accept a risk or the premium charged for that risk is down to the individual underwriter."
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