War Risk

(redirected from War Peril)

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.

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Should your coffee be lost in a warlike cross fire, you may well have the thankless task of convincing war peril underwriters that the peril causing your loss was truly theirs, not one of piracy belonging to the separate Marine only counterparts.

Not if you have a purely London cover - the monumental 1982 re-write of the entire Institute Clauses pulled piracy out of the war perils and put it back into the Marine perils.

Pirates, thieves, and rovers

shippers have the option of purchasing a separate war risk policy, called the American Institute Hull War Risk and Strikes Clauses which effectively covers the excluded war perils, including piracy.