Nippon Export and Investment Insurance said Friday it will lift a ban on insurance for firms operating in four Middle East countries now that U.S. forces control Baghdad.
The countries are Saudi Arabia, Kuwait, Israel and Turkey. An official of the trade insurance body said there is little chance that neighboring areas will be affected by the war.
"The measure means the trade insurance business will be back to normal," he said.
The body announced it would exclude the four countries March 20, when the war in Iraq began. The exclusion became effective March 28.
The organization also halted underwriting policies with clauses stipulating additional insurance dues for firms dealing with Iran, Bahrain, Qatar, Oman, the United Arab Emirates, Saudi Arabia, Israel and Turkey.
The body said it will resume underwriting such insurance policies for these countries beginning April 21.
The clauses stipulate the body will pay insurance dues to cover unexpectedly higher costs.