Political Risks
'A global insurance approach'
Inter Hannover has provided insurance cover for losses resulting from war on land, confiscation, political violence and terrorism for 20 years both as direct insurance and/ or reinsurance. The cover applies to both movable and fixed assets and includes both physical damage and business interruption following such damage.
Risks are underwritten on a global basis both in terms of clients and exposures. Insured perils form part of specific clauses and are tailor-made to the client's needs. The final premium charged and capacity provided are based on perils and clauses together with country assessments. Premiums are also linked to loss limit purchased (first loss/ full value), the client's own participation and security arrangements.
The main areas covered are shown below:
War on land
War on land cover includes losses resulting from:- War
- Civil War
- Revolution
- Rebellion
- Insurrection
Confiscation
Confiscation cover includes losses resulting from:- Expropriation
- Nationalisation
- Deprivation
- Forced abandonment
- Selective discrimination
- Forced divestiture
Terrorism
Terrorism cover includes losses resulting from:- Domestic terrorism
- International terrorism
Political violence
Political violence cover includes losses resulting from:- Strikes
- Riots
- Civil commotion
