Cargo writers push for ‘five powers’ conflict clauses after reinsurance clampdown
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Cargo writers push for ‘five powers’ conflict clauses after reinsurance clampdown

Samuel Casey
11 January 2023
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Cargo underwriters are looking to add a “five powers” conflict exclusion clause to primary policies following its imposition at a reinsurance level, in the latest case of primary insurers repositioning in the wake of a challenging 1 January reinsurance renewal.

The five powers clause excludes liability for losses arising from the outbreak of war between any of the following five nations: the UK, US, France, Russia and China.

While

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Samuel Casey
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