asked the Minister for Industry and Commerce if he will arrange for war risk insurance to be made available for goods sold to the Federation of Nigeria by Irish manufacturers.
Ceisteanna—Questions. Oral Answers. - War Risk Insurance.
Political risks insurance which is provided by certain Irish insurance companies on my behalf covers certain risks associated with the export trade which are not normally insured commercially. These include the risk of loss due to the occurrence of war or other disturbances in the buyer's country.
Since the outbreak of war in Nigeria political risks insurance is not usually provided for that market. I am, of course, prepared to consider specific applications for the extension of political risks insurance to cover exports to Nigeria subject to the usual conditions and in particular to the condition requiring the insured to take all practicable measures to prevent or minimise loss.