Allianz expresses interest in LOT terrorism insurance

The government's guarantee to protect flagship national carrier LOT Polish Airlines against acts of terrorism expires at the end of June. Allianz is to be the first insurance company to put in an offer to replace the guarantees with commercial insurance amounting to $1 billion in coverage, the same as the government's level of coverage. "At the moment we are investigating the market, and within a few days we are going to make an offer to LOT and White Eagle Aviation (WEA)," said the deputy president of Allianz Polska, Ryszard Micyk. LOT has not taken an official stance on the proposal yet, assuming that it will be possible to renew governmental guarantees, whose major advantage over commercial ones is that they are free. The government, however, has not presented its stance on guarantees for LOT. Another insurance company, Warta, which insures LOT and WEA, is preparing to offer terrorism policies to Polish air carriers, substituting the governmental guarantees. (Puls Biznesu, p. 4) K.S.