The scheme would cover loss and damage to the property insured (with the exception of deterioration, loss of market, or loss of profit) caused directly or indirectly by aircraft or bombardment in so far as the loss or damage would not be covered by an ordinary fire policy containing a clause in the following words:—
This policy does not cover loss or damage occasioned by or happening through invasion, foreign enemy, riot, civil commotion, or military or usurped power.
§ Rent may be insured as well as specific loss or damage to the property.
§ Insurance against bombardment is optional. Two policies have been drawn up, one against aircraft risks only, the other against aircraft and bombardment risks. (The terms of these policies are shown in Schedules I. and II. of the Report.)
§ The insurance of goods on board ship would not be covered under the scheme, nor would ships on the slips.
§ In the case of bombardment the cover is limited to bombardment by hostile guns not landed on British territory.