Passenger aircraft may have to be grounded for lack of insurance cover if war against Iraq overspills the country's borders.
But many insurers are prepared for the conflict as long as it remains wi ...
Passenger aircraft may have to be grounded for lack of insurance cover if war against Iraq overspills the country's borders.
But many insurers are prepared for the conflict as long as it remains within Iraq, said Kiln director of underwriting Robert Chase.
"If the war in Iraq spills over into other areas, insurers may invoke their notice periods and withdraw cover," said Chase.
Commercial notice periods are typically as short as seven days.
Chase said Kiln was protected against economic fall-out from the war.
"Many of our policies have geographic exclusion clauses and Iraq has been excluded since 2001," he said.
Some staff at Allianz Cornhill are already receiving their call up papers and heading for the Gulf.
Allianz Cornhill HR manager Mike Collins said: "At Allianz Cornhill we have reservists such as ex-army personnel and current Territorial Army recruits across all areas of the business. As during the last Gulf conflict in 1991, we will be holding all jobs open and maintaining salaries and benefits for any members of staff called up to fight."
