When goods are the end products of a worldwide chain of manufacture and distribution, a nation that goes to war risks cutting itself off from vital resources.
Reflecting the trend, a committee of marine underwriters at Lloyd's, the London insurance market, recommended recently that piracy risk be shifted from inclusion in standard policies covering physical damage to boats to war-risk policies.Sceptics say that this will simply allow insurers to charge more for coverage in a highly competitive marine market.
Before the piracy boom, marine insurers like Lloyd's had no reason to levy premiums to cover war risk (under which piracy falls), kidnapping and ransom.
A recent partnership between Hart Security, a PSC, and Swinglehurst Ltd., a marine insurer, to provide War Risk Coverage to vessels protected by Hart Security personnel is one example of the marine insurance industry favoring the use of PSCs.
Under the codename Equitime, the Air Transport Association, a trade group in Washington, DC, and Marsh, an insurer, are working to set up a captive to cover war risk.
The presence of sprawling, unregulated settlements so close to a hot border is dangerous for parties on both sides: the displaced Syrians are exposed to heightened war risk, and the camp could offer shelter and cover to elements hostile to Israel.
The freight-shipping case began in late 2003 after a plane operated by one of Eagle's rival shippers, DHL, was shot down by a missile in Iraq and Eagle was seeking "war risk" insurance to continue flying to Baghdad.
Instead, officials from the president down warned us that unless we went to war, we risked a mushroom cloud at home.
"By going against his government's policies, becoming a Muslim, refusing to go to war, and risking jail and the loss of his titles, it was as if Ali had challenged Johnson himself". .
With the return of Shia Iran to the international community, that war risks becoming far more vicious, and the willingness of the Saudis to use violent jihadis as their proxy shock troops is likely to become unrestrained.
Just like... the Defense Planning Guidance forced up the issues of how you begin to balance risks: war risks, against personnel risks, against transformation risks, against modernization risks.
