The Chinese government announced on Monday that it was extending insurance coverage of war and terrorist risks for the country’s airlines for an additional month, until December 24, 2002.
The coverage was first made available to the airlines following the Sept. 11 attacks, and has been provided on a month-by-month basis ever since. This is the 14th time that the government has extended the cutoff date.
However, with private sector coverage still limited to $50 million, and excess policies remaining very expensive, the Chinese government apparently feels it has little choice, but to continue the state’s insurance program in support of the airlines.
Was this article valuable?
Here are more articles you may enjoy.
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers 
World’s Growing Civil Unrest Has an Insurance Sting 
Experian Launches Insurance Marketplace App on ChatGPT 
