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May 2, 2013

Demand for terrorism coverage remains strong: Marsh

Marsh has recommended that United States Congress reauthorize the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) in light of ongoing strong demand for terrorism risk insurance and the possibility that opting not to reauthorize the program could lead to price increases.

If TRIPRA, commonly known as TRIA, is allowed to expire or is substantially changed, terrorism insurance capacity may be difficult to acquire at reasonable costs for insureds, especially those with significant exposures in a central business district or major city, notes Marsh’s 2013 Terrorism Risk Insurance Report, released Tuesday. Almost 2,600 companies were surveyed, notes Marsh, a global leader in insurance broking and risk management.

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http://www.canadianunderwriter.ca/news/demand-for-terrorism-coverage-remains-strong-marsh/1002270006/