War risks are those related to two (or more) belligerents engaging in hostilities, whether or not there has been a formal declaration of war.
An insurance against war perils normally covers the following risks:
- War or war-like conditions
- Use of arms or other implements of war or in the course of military exercises in peacetime
- Capture, condemnation in prize, confiscation and other similar interventions by a foreign state or power
- Riots, strikes, lockouts, sabotage, etc.
- Piracy and mutiny (depending on which set of conditions are applicable)
War policies are closely linked with marine policies. In order to avoid any gaps in coverage, we recommend that the insured cover both policies with the same set of conditions