Kathmandu. Australia’s Insurance Council (ICA) has declared the conflict in the Middle East a “special incident” in an effort to shore up industry support. The council said the announcement will help insurance companies and policymakers assess the impact of conflict on insurance.
An insurance industry-wide task force has been set up under the announcement of the special incident. In consultation with the members, the council has started collecting, analysing and reporting insurance claims data.
Council representatives are working closely with the federal government and agencies to ensure a co-ordinated and integrated approach to affected Australians. “Travel insurance companies have mobilised additional resources to support insurers affected by the Middle East conflict,” the council said. It includes dedicated 24÷7 access. This is helping to coordinate medical care and prioritise support for our citizens living in the affected countries. ’
Travel insurance companies said they would extend the date of policy coverage to help customers affected by the closure of airports and airspaces, and that most products have standard exclusions for war and hostilities. –Agency
