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State to cover Israeli airlines' war risk insurance

Knesset yesterday approved emergency $4 billion war risk insurance guarantee

The Knesset Finance Committee convened in an extraordinary session late last night to approve a $4 billion war risk insurance guarantee for Israeli airlines, following a decision by international insurance companies to cancel their coverage of airlines as of midnight last night.

The proposal was submitted by Finance Minister Silvan Shalom as a temporary and immediate measure to allow Israeli airlines to continue flying.

The state will guarantee whatever policies the airlines were carrying at the time the insurance companies canceled them.

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