The London Market will avoid any claims from this weekend's deaths at the shipyard where the Queen Mary 2 is dry docked.
The shipyard's liability insurance will cover any claims, and this is understood to be placed in the French insurance market.
Sixteen people died and 32 were injured when a gangway leading to the liner collapsed, plunging the victims 15m to the concrete below. The Queen Mary 2 was in a dry dock in the Atlantic port of St Nazaire.
The liner is the largest and most expensive passenger ship ever built. Its hull is insured for $780m, with Royal & SunAlliance taking the lead.
The liner is due to make its maiden voyage on 12 January from Southampton to Fort Lauderdale, Florida.