"War risk insurance is an insurance policy that provides financial protection to the policyholder against losses from events such as invasions, insurrections, riots, strikes, revolutions, military coups, and terrorism. It is offered as a separate policy as it is excluded from standard insurance policies due to the high risks involved."
War risk insurance is an insurance policy that provides financial protection to the policyholder against losses from events such as invasions, insurrections, riots, strikes, revolutions, military coups, and terrorism. It is offered as a separate policy as it is excluded from standard insurance policies due to the high risks involved. Businesses and individuals that operate in high-risk countries are often good candidates for war risk insurance. Industries in the aviation and maritime spheres may have more specific war insurance options tailored to meet their particular needs. For example, war risk insurance may compensate a ship’s owner for the full cost of a vessel in cases where a government seizes the ship. If war activities force a ship into temporary detention, war risk insurance may cover that loss of time.
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Esta historia es de la edición February 2024 de THE INSURANCE TIMES.
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About Dr Anil Subba Rao Paila
IRDAI Corner
Insurance Regulatory and Development Authority of India (Insurance Fraud Monitoring Framework) Guidelines, 2024
Insurance Caselaws
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The terms of the insurance contract require strict construction without eschewing or adding the words in the contract. However, insurers are exempted from any liability where the loss is attributable to an excluded peril specified in the exclusion clause or not mentioned in the covered causes/perils/risks/loss.
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Life Insurance News
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