Insuring non-damage business interruption from terrorism
Friday, 06 16 2017, Category: Insurance and Reinsurance, Country: United Kingdom
The very nature of terrorism risk seems to be changing, shifting from single large, catastrophic incidents to smaller attritional losses, which involve less damage to property – but this poses a different set of challenges to re/insurers.
This is according to speakers at a seminar on terrorism crisis management at the Airmic Conference 2017, which included Arthur J Gallagher managing director Paul Bassett and executive director Justin Priestly, along with Steven Johnson, a professor at Cranfield University.
Johnson described terrorism risk transfer solutions as an evolving issue, citing the change in attacks experienced particularly in the UK.
Source: Intelligent Insurer