The German government recently announced it would not give state aid to Deutsche Lufthansa AG in the event of a terrorist attack, according to Dow Jones Newswires.
The Finance Ministry cited insurers’ present willingness to cover damages as the basis for their decision.
A spokesperson for Lufthansa said that before the war with Iraq began, the most the airline could secure in coverage was $2 billion from various insurers in the private market.
Lufthansa asked the government for compensation to cover damage above $2 billion in the event of a terrorist attack.
The airline will continue to search for a global solution providing airlines with adequate insurance coverage.
Topics Catastrophe Natural Disasters
Was this article valuable?
Here are more articles you may enjoy.
Bumble, Panera Bread, CrunchBase, Match Hit by Cyberattacks 
LA County Told to Pause $4B in Abuse Payouts as DA Probes Fraud Claims 
Zurich Reveals Beazley Stake After UK Insurer Spurns Bid 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
