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RESEARCH AND BRIEFINGS

2018 Terrorism Risk Insurance Report

 


Although the number of incidents and casualties declined in 2017, terrorism remains a persistent and significant threat to businesses, governments, and individuals. And the nature of that threat is changing: Attacks by “lone wolves” and small groups against soft targets are becoming more common, vehicles are increasingly being used by attackers, and the threat of cyber-attacks continues to grow.

In our 2018 Terrorism Risk Insurance Report, we explore the state of the terrorism insurance marketplace, presenting data on purchasing and pricing trends. We also take a look at how the terrorism insurance market continues to innovate and respond to the needs of global organisations in light of an evolving risk landscape.

Among the key findings from this year’s report:

  • As attack methods evolve, buyers are seeking to expand terrorism definitions in insurance coverage to include active assailant events.
  • Terrorism insurance capacity remains strong, but pricing could increase as global insurance costs generally increase following natural catastrophe losses in 2017.
  • Insurers are developing specialty products that offer first- and third-party business interruption protection for businesses that suffer lost income or revenue without the need for a direct property damage trigger.
  • Education entities, health care organisations, financial institutions, and real estate companies had the highest terrorism insurance take-up rates by industry in 2017.

Download the full report to learn more.

"Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by Jardine Lloyd Thompson Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request.