Fri, Oct 21, 2005
Airlines Wouldn't Be Covered If Hit By Certain Types Of
Terrorism
European insurance carriers are threatening to leave European
air carriers in the lurch if they're attacked -- or used in attacks
-- by terrorists who employ biological, chemical or nuclear
weapons. If insurers follow through with that threat, civil
aviation in Europe would be wide open to financial loss in the case
of a "dirty bomb" attack.
If a dirty bomb -- a radiological explosive device -- were to be
detonated at an airport, for instance, insurers and airlines are
both worried about the tremendous exposure they'd face in terms of
liability.
British Airways is one carrier that would be left exposed in the
event insurance companies withdrew coverage of certain terror
events. "We are aware that some insurers have withdrawn some
aspects of their insurance cover in relation to radiological,
chemical or biological attacks," BA said in a statement quoted by
Reuters.
The issue comes to the surface as airlines are negotiating with
insurers on policy renewals. Earlier this month the Aviation
Insurance Clauses Group, a London-based insurance-industry panel,
started talking about excluding coverage for "dirty bomb"
claims.
"It is a potential exposure that we have at the moment," said
Stephen Riley at Global Aerospace, the world's leading aviation
insurance group. We and the industry have some concerns about it.
Whether or not we work to limit our exposure is something we are
all talking about at the moment."
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