As the war in Iraq moves into its third week insurers are not pulling aviation coverage, according to the International Air Transport Association (IATA).
As the war in Iraq moves into its third week, insurers are not pulling aviation coverage, according to the International Air Transport Association (IATA).
IATA spokeswoman Wanda Warner said: "We have not heard, nor do we expect to hear, that the insurance industry is cancelling coverage.
US broker Rick Weinkauf said: "There has been nothing from the [insurance] carriers, so far. No one is invoking a notice to cancel coverage."
He added that insurance carriers are taking a wait and see attitude.
However he warned that carriers dependent on the traditional market, largely written by Lloyd's are subject to war-risk buy back, cancellations, and denial of coverage on 24-hour notice for air routes deemed to be too dangerous.
