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SaltWire's Atlantic regional weather forecast for October 19, 2023 | SaltWireLONDON - Aviation war insurers have given notice to cancel cover for some airlines domiciled in Israel and Lebanon because of the conflict in the region, with some cancellations already taking effect, three industry sources with direct knowledge of the matter said.
"War underwriters' appetite for continuing to cover these risks for no additional reward differs and some are now looking to withdraw cover, especially given the news the Israeli government has provided a backstop to cover flights," said Bruce Carman, chief underwriting officer at Hive Underwriters. A spokesperson for Israir said it had not been served notice by its insurers, but did not provide additional details. A spokesperson for Lebanese carrier Middle East Airlines did not immediately respond to requests for comment.
"Certain underwriters have not allowed or not provided insurance for war risk and other allied perils insurance for some operators," Garrett Hanrahan, Marsh's Global Aviation Leader, told Reuters. Airlines based outside Israel and Lebanon are not suffering from cancellations to their cover for the region but are facing other restrictions, two industry sources said.
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