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War Risk Insurance

   Also found in: Acronyms, Wikipedia 0.01 sec.
War Risk Insurance
Separate insurance coverage against loss or damage due to acts of war (including objects left over from previous wars).

War Risk Insurance
An insurance policy covering risk from war, terrorism, coups or other armed conflict in the country in which the covered party does business. War risk insurance takes two forms: war risk liability, covering employees, customers, and other persons and their effects, and war risk utility, covering property. For example, a company may take out war risk insurance protecting a luxury passenger ship from an act of terrorism while at sea. The war risk liability covers the persons on a cruise and their luggage while war liability utility protects the ship itself. See also: Political risk.


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It maintains hull, machinery and war risk insurance on each vessel.
With regard to the insurance reimbursement program, the FAA implemented a systematic review process to determine the increases carriers experienced in their war risk insurance premiums following the terrorist attacks and to reimburse the carriers accordingly.
Discussions, which followed, centered on homeland security, critical infrastructure protection, war risk insurance, and technology requirements for combating terrorism.
 
 
 
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