It follows similar action taken in Europe as governments step in to fill the void left by international insurers that decided following the September 11 attacks on the United States that they would no longer provide war-risk liability.
"Although there are numerous positive signs of progress in Iraq -- violence has fallen to its lowest level since 2003, its economy is growing modestly, oil production recently surpassed that of Iran, and foreign investment is beginning to restore infrastructure decayed by years of war and sanctions -- the risk of acute instability and renewed conflict remains, " Ollivant said.
Courts have also ruled that act-of-war clauses do not apply where risk can be foreseen when the contract was signed.
Even CNN correspondent Arwa Damon, with her vast experience of reporting from war zones, had reservations about the high-risk job.
David Cameron is likely to paint a rather different picture of Labour's stewardship of the economy, blaming them for presiding over the biggest post-war budget deficit and potentially putting at risk Britain's international credit rating.
He was also aware of a more immediate risk in those cold-war days: a smaller visitor (such as the one that had exploded over Siberia in 1908, flattening 2, 000 square miles of forest) might be mistaken by either superpower for a nuclear detonation and trigger Armageddon.
More to the point, it is inconceivable that the U.S. would ever launch this all-out attack, and risk nuclear war, unless the direct, vital interests of the U.S. were imperiled, and this would not credibly include an attack on Japan alone.
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Besides, this latest revolution is being conducted under perfect conditions--no inflation, no war and a Fort Knox of risk capital available to all.
Two decades after the end of the Cold War, we face a cruel irony of history -- the risk of a nuclear confrontation between nations has gone down, but the risk of nuclear attack has gone up.
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In deciding to participate in peacekeeping arrangements, Washington will have to balance the possible risks inherent in peacekeeping as well as the potential opportunities that peace will create versus the likely risk of increased instability and perhaps even war should the Israel-Syria peace effort collapse.
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Much of this risk aversion can be traced back to Germany's post-war economic miracle, the Wirtschaftswunder.
There's a risk that the Bank will always be fighting the last war and thus - possibly - paving the way for the next one.
After the fallout over the 2003 war in Iraq, Mr Sarkozy carefully mended relations, taking a risk by confronting deep-seated French anti-Americanism.
The chief of naval operations says stocks of precision- guided munitions -- the wonder-weapon of choice in Kosovo and Iraq -- are "below the current war fighting requirement, " which poses a "major risk" to U.S. forces.
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There are a lot who have been hurt, and we all know, going back to the very opening weeks of this war, that the women who are involved even in so-called support missions are also at risk.
"This proposal - developed by national security experts - is grounded in the fact that these tactical nuclear weapons in Europe serve no meaningful purpose 20 years after the end of the Cold War, and represent nothing but a financial cost and a security risk, " argues Matt Brown, co-founder of Global Zero.
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