Following a proposal announced last week by Germany to extend existing government guarantees against terrorism and war related losses for the airline industry, the European Commission has voted approval for a 60-day extension to allow the European airline industry to come up with an alternative solution to traditional insurance cover. Existing European government guarantees against terrorism are set to expire at the end of this month.The EU decision to extend government covers follows on similar steps taken by the U.S. and Canadian governments earlier this month. The EU is concerned that, by not extending the guarantees, European airlines would be competing at a disadvantage to their trans-Atlantic rivals. "It makes sense for the Europeans to do the same thing [as the U.S.]. There must be fair competition," says Germany’s transport minister, Kurt Bodewig.
Why insurers won their dispute over a $50-million excess policy
An insured is not entitled to coverage on a “claims made and reported” excess liability policy when it failed to report the claim to the excess insurer within the policy period, Ontario’s Appeal Court has confirmed. The insured, a law firm, argued it was entitled to professional liability coverage despite “imperfect compliance” with the claim […]
By David Gambrill | September 18, 2024
4 min read