10Insurance contracts for atypical risks

10 Insurance contracts for atypical risks

(1) For the purposes of subparagraph 8(2)(b)(ii), and subject to subsection (2) of this section, this section applies to a contract of insurance if each risk insured under the contract is a risk of any of the following: (a) loss or liability arising from the hazardous properties (including radioactive, toxic or explosive properties) of nuclear fuel, nuclear material or nuclear waste; (b) loss or liability arising from the hazardous properties of biological material or biological waste; (c) loss or liability arising from war or warlike activities (within the meaning of the Insurance Contracts Regulations 2017); (d) loss or liability arising from a terrorist act (within the meaning of the Crimes Act 1914); (e) liability arising from health‑care related research; (f) loss of, or liability arising from the operation of, a space object (within the meaning of the Space (Launches and Returns) Act 2018); (g) liability arising from the ownership or operation of an aircraft (but not loss of the aircraft or its cargo); (h) liability and expenses arising from a person owning, chartering, managing, operating or being in possession of a vessel other than a pleasure craft (within the meaning of subsection 9A(2) of the Insurance Contracts Act 1984); (i) loss or liability arising from equine mortality or fertility and related risks; (j) loss or liability incidental to a loss or liability mentioned in paragraphs (a) to (i). Equestrian packages (2) This section does not apply to a contract of insurance if the contract of insurance is an equestrian package. (3) A contract of insurance is an equestrian package if each risk insured under the contract is a risk associated with: (a) horse‑riding; or (b) owning or possessing a horse for purposes relating to horse‑riding.