Private insurers are increasingly willing to write aviation insurance for terrorism, and the United States is among a small handful of governments still providing coverage for the risk, Guy Carpenter reports.
In its “2008 Global Terror Update,” the reinsurance brokerage noted that governments stepped in to provide insurance after Sept. 11, 2001, when aviation carriers withdrew coverage for acts of war, terrorism and related perils.
The report noted that because airlines are required to carry third-party liability insurance to receive landing rights and as a condition for leases, the cancellation of aviation coverage could have threatened the industry as a whole.
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