Canadian Underwriter

Canadian airline insurance program extended

July 29, 2002   by Canadian Underwriter

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Transport Canada has extended its third-party war risk liability coverage for the nation’s airlines, airports, navigation and security firms. The government stepped in to offer the coverage following the September 11 terrorist attacks when private insurers cancelled coverage.
Originally, the coverage was offered on a limited basis on September 22, 2001, but the deadline has been extended several times due to lack of available, affordable coverage in the private market. The most recent deadline, July 19, is now extended to September 17, 2002.
“The government of Canada is following the efforts of the International Civil Aviation Organization (ICAO), and is also participating in discussions to establish a multilateral cooperative mechanism that will provide adequate protection and, most importantly, stability in aviation war risk liability coverage,” says Transport Minister David Collenette.
The program includes all Canadian airlines, airports, NAV Canada, and other essential services such as ground handlers and re-fuellers.
Collenette continues to call the program “temporary” and says the government will continue to work with insurers and other countries to come up with a permanent private market solution.

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