Terrorism News

Chubb Boosts Capacity for Terrorism, Political Violence, War Insurance

Chubb said it is now offering increased insurance capacity of up to US$150m/ €150m (previously US$100m/ €100m) for terrorism, political violence and war risks in response to evolving threats and increased demand from multinational clients. The new increased capacity will …

U.K. Security Services Warn of Imminent Terrorist Attack; U.S. Leaks Criticized

Soldiers are to patrol British landmarks and sporting events in their biggest homeland deployment in decades, as security services warned that another attack by terrorists who killed 22 people at a pop concert on Monday was imminent. Prime Minister Theresa …

Islamic State Claims Responsibility for UK Terror Attack – Worst Since 2005

Prime Minister Theresa May vowed to combat the “ideology” behind Britain’s worst terrorist attack in 12 years after a suicide bombing killed 22 people at a pop concert. Islamic State claimed responsibility. Campaigning for next month’s general election was suspended …

Political Risk a Growing Concern, Say Brokers, Insurers

Evan Freely has been insuring global risks for years — through the 2008 market meltdown, the 2002 crisis in Argentina, and the 1993 downturn in Venezuela. Yet turmoil now seems to be coming at a more rapid pace than he’s …

Top 3 Causes of Global Liability Claims = 60% of Value: Allianz Report

Defective product/work quality issues, crashes and human error are listed as the top causes of liability loss for businesses, according to a report published by Allianz Global Corporate Specialty (AGCS). Collectively, these top three causes of loss for businesses account …

Update: Death Toll Rises, Dozens Injured in Russia Subway Terror Attack

A subway bombing in St. Petersburg killed 11 people and injured dozens more during a hometown visit by President Vladimir Putin, officials said, renewing fears of terrorism in Russia’s biggest cities less than a year before presidential elections. A homemade …

Parliament Reopens After London’s Worst Terror Attack in More Than 10 Years

Parliament got back to work on Thursday after London’s worst terror attack in more than a decade left four people dead, including the assailant and the police officer he stabbed. Lawmakers, and those investigating the crime scene outside, held a …

RSA Begins Trading on London Market Placing Platform, PPL

International insurer RSA has begun trading on the London insurance market’s electronic placing platform, PPL (Placing Platform Ltd.), which enables brokers and underwriters to quote, negotiate, bind and endorse business using one market-wide system. RSA’s Profin underwriting team is now …

UK’s Pool Re Increases Reinsurance Cover to £2B ($2.5B)

Pool Re announced it has increased its commercial reinsurance cover to £2 billion ($2.5 billion), compared with the £1.95 billion ($2.4 billion) of cover previously in place. The placement further distances the UK Treasury, and thus, ultimately, the UK taxpayer …

Ironshore International Hikes Capacity to $400M for Terrorism & Sabotage Cover

Ironshore International has increased capacity for Terrorism & Sabotage programs to US$400 million, an increase from the current U$375 million limit, effective immediately. Ironshore’s Terrorism & Sabotage cover provides insurance protection for clients against damage to commercial and residential property, …