War Risk

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War Risk

The likelihood that a person or property will be injured, killed or destroyed in an act of war. For example, if an employee is transporting goods in a truck to a customer, war risk is the possibility he/she may drive over a landmine, killing himself/herself and destroying the goods. War risk is a type of political risk and is often excluded from insurance policies.
References in periodicals archive ?
Mr Richard Chidlow, local secretary of the Sailors' and Firemen's Union, presided at today's meeting, and Mr Joseph Cotter, of the Stewards' Union, submitted to the men the Government's proposal as follows: "The Government have expressed their willingness to appoint a tribunal to inquire into the question of the war risks run by ships sailing from Liverpool, and the complaints in respect of short voyages arising from the war.
whose Lloyd's of London syndicate 609 leads the war risks policy for Malaysia Airlines, said it had agreed to settle the hull war loss portion of the loss.
Doha Insurance chief executive officer, Bassam Hussein, has been elected to the technical committee of Arab War Risks Insurance Syndicate (AWRIS), which is based in Bahrain.
MANAMA: The Bahrain-based Arab War Risks Insurance Syndicate (Awris) has launched its new offices at Platinum Tower, Seef.
Does your coverage include a war risks policy and a strikes, riots or civil commotions (S.
Service Life Insurance gives cover for war risks such as chemical and biological attack.
Those vessels are insured in the commercial market for war risks, including terrorism, but with exclusions for nuclear, biological or chemical attack.
ONE of the worst share slumps on record was triggered yesterday as the threat of war risks driving the world into its deepest recession in modern times.
A special war claims site allows users to download PDFs of various rating schedules provided by the London Market War Risks Rating Committee and the American Market War Strikes, Riots and Civil Commotions Schedule.
The International Accident and Health division of Willis Group Holdings has developed a range of products to assist organizations in securing war risks and malicious risks coverage.
The London-based War Risks Rating Committee has formally declared that Sri Lanka carries insurance risks for ships and aircraft by labeling voyages and flights to and from there as ''held covered.
the amount of insurance and avioodgovornos avioodgovornost against war risks is 50,000,000 USD; - the amount of insurance Aircraft Casco is 13 million USD, the franchise of US $ 50,000 any damage; and - the amount of insurance accident - an accident is 3,200,000.