Delta Airlines 2011 Annual Report Download - page 23
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Our insurance costs have increased substantially as a result of the September 11, 2001 terrorist attacks, and further increases in insurance costs or
reductions in coverage could have a material adverse impact on our business and operating results.
As a result of the terrorist attacks on September 11, 2001, aviation insurers significantly (1) reduced the maximum amount of insurance coverage available
to commercial air carriers for liability to persons (other than employees or passengers) for claims resulting from acts of terrorism, war or similar events and
(2) increased the premiums for such coverage and for aviation insurance in general. Since September 24, 2001, the U.S. government has been providing U.S.
airlines with war-risk insurance to cover losses, including those resulting from terrorism, to passengers, third parties (ground damage) and the aircraft hull.
The coverage currently extends through September 30, 2012, and we expect the coverage to be further extended. The withdrawal of government support of
airline war-risk insurance would require us to obtain war-risk insurance coverage commercially, if available. Such commercial insurance could have
substantially less desirable coverage than that currently provided by the U.S. government, may not be adequate to protect our risk of loss from future acts of
terrorism, may result in a material increase to our operating expenses or may not be obtainable at all, resulting in an interruption to our operations.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
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