War Risk

(redirected from War Perils)

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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References in periodicals archive ?
War perils generally only attach upon coffee that has left the land and is truly waterborne on a vessel.
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.19 However, even under the hull war risk insurance policy, the marine insurer retains the right to cancel the policy at any time.
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.