hull war risk insurance
(including automatic termination and cancellation provisions in the event of war); and
The seller must purchase marine and war risk insurance
and provide the buyer with a clean bill of lading and a negotiable certificate of insurance or an insurance policy.
On his first visit to Hong Kong since taking up the post at the Geneva-based agency in June, Mr Bisignani also said that war risk insurance
premiums were carving a large dent in airline earnings.
11 been pressing for an affordable, non-cancelable and global solution to the war risk insurance
issue, strongly supported a solution proposed by International Civil Aviation Organization (ICAO) last January.
First, the federal government, via the FAA, stepped in to provide third-party war risk insurance
coverage excess of $50 million after all airlines were notified of cancellation and reinstatement provisions under their war risk liability policies.
Additionally, the federal government will cover the cost difference of any increases in war risk insurance
, which is bought by airlines and airports to cover their liabilities in times of war or crisis.
Congress establishes Bureau of War Risk Insurance
to satisfy demand.
It is being estimated that aviation war risk insurance
claims for the last 5 months now total $600 million, while the sector gathers just $65 million in annual premiums.
MANAMA: Bahrain-based Arab War Risk Insurance
Syndicate (AWRIS) has reported its highest profitability since inception and the election of a new technical committee.
James Oberstar of Minnesota would provide assistance by reopening a federal loan guarantee programme to cover rising fuel prices, as well as provisions on war risk insurance
and compensation for strengthening cockpit doors.
Meanwhile, UK Government ministers yesterday agreed to further extend a war risk insurance
scheme for airlines still battling to overcome the impact of the September 11 terrorist attacks in the US.
The potential grounding of airline fleets worldwide was averted yesterday after governments all over the globe agreed to provide the necessary war risk insurance