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.

References in periodicals archive ?

* hull war risk insurance (including automatic termination and cancellation provisions in the event of war); and

Ocean piracy and its impact on insurance

Since late September, international shipping companies have been levying war risk insurance surcharges of 100 USD per container or 5 USD per ton on all cargo to and from Pakistan.

Hot Spots: Pakistan. (International Insight)

However, Cathay Pacific said Monday it has reached a deal with a private insurance company to increase the war risk insurance, enabling it to continue to operate as normal.

H.K. gov't provides insurance guarantees for local airlines

That is why the FAA has another role besides that of regulating safety standards: the federal body also steps in to provide war risk insurance, coverage for certain catastrophes and emergencies at reasonable terms for airlines that cannot get it anywhere else.

Aviation and risk management

The event was held to mark the 35th anniversary of Bahrain-based Arab War Risk Insurance Syndicate (AWRIS).

AWRIS marks key milestone

"No ship owner would want to send his vessel to the region for repairs since there would be massive war risk insurance involved.

Asry expansion 'to be completed by next year'

airline lobbied on legislation dealing with aviation security, passenger rights, war risk insurance, tax issues and Federal Aviation Administration reauthorization, according to the form posted online Feb.

Company Watch - Continental Airlines

War risk insurance and security issues cost airlines EUR1.9bn, which according to IATA should be covered by governments.

Airlines blame EU for high costs

Additionally, when life insurance for veterans had its beginning in the War Risk Insurance program, first made available to members of the Armed forces in 1917, coverage was limited to $10,000.

Presidential candidates present views on DAV priority issues

Commercial insurers withdrew third party war risk insurance in the aftermath of September 11 attacks.

Iraq war the big threat to airlines struggling back

11, war risk insurance for airlines and other aviation stakeholders was canceled, though some governments extended the third-party war risk cover that was previously provided to their respective airlines and other parties pending agreement on an affordable global solution to the war risk problem.