Aviation war risk liability; Governments step in to keep airlines aloft.(Brief Article)

Business Insurance, October, 2001 by Aldred, Carolyn

Governments worldwide stepped in last week to act as insurers, as crisis meetings among airline and insurance executives and government officers in Europe, the United States, Africa, Australia and Asia produced an array of government-backed plans to keep airlines flying. European Union finance ministers discussed the matter during meetings in Belgium and agreed that E.U.

member states could provide airlines with guarantees of third-party liability insurance for war and terror risks for a limited period. Sources say, though, that the ministers expressed great disappointment with the insurance industry and urged insurers to come up with a solution to the problem. The European Commission, the executive body of the European Union, also confirmed that it was...

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