Terrorism Update

Governments around the world are increasingly becoming involved in developing insurance programs and pools to provide terrorism coverage, though some countries still offer no governmental support at all, according to a new report from Guy Carpenter. The 2009 Global Terror Update summarizes terrorism insurance market developments in 34 countries across six continents. According to the briefing, developments on a country-by-country basis are being shaped largely by events, including new or evolving threats and local developments in insurance and reinsurance markets. A section on aviation insurance notes that though most of the government-sponsored aviation insurance schemes adopted in the wake of September 11, 2001 have been withdrawn and replaced by commercial cover, the U.S. government has extended the duration of its cover. Other governments still providing third-party liability cover in 2008 include Canada, Brazil, China, Jordan, New Zealand, Qatar and Saudi Arabia. With market capacity increasing and prices dropping considerably, coverage is available and abundant. The report also looks at recent developments in terrorism modeling. Check out I.I.I.  facts and stats  on terrorism.

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