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Forum
Started Nov 28 2012, 21:04
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Nov 28 2012, 21:04
War risk insurance is insurance that gives compensation for economic losses caused by war and alternative kinds of political or large-scale violence. additionally to insuring against damages caused by acts of war states, war risk insurance conjointly encompasses internal conflicts, like insurgencies and civil wars, and acts of coercion, like bombings and hijackings. In some cases, it conjointly covers damages caused by weapons of mass destruction. it's most typically bought for industrial ships and craft, however it also can be wont to insure alternative property or personnel in danger thanks to violent conflicts.War risk insurance exists as a separate class as a result of most typical insurance policies providing coverage for damages caused by accidents, crime, or natural disasters specifically exclude damages caused by warfare, rebellions and alternative internal strife or terrorist attacks. traditional insurance conjointly doesn't give compensation for state seizure; nationalization of property; property damage; or injury from weapons of mass destruction, like nuclear bombs and tomography weapons. War risk insurance fills this specialised niche.
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