Self-Insuring Terrorism Is Risky

Commercial insurance buyers looking for terrorism coverage basically have three choices–they can buy expensive standalone policies (if they can find any), they can set aside funds and self-insure their exposure, or they can go bare and hope for the best.

Standalone terrorism markets do exist, including Lexington, AIG and London entities, said Scott Wightman, vice president of public sector and scholastic risk at A.J. Gallagher & Company in St. Louis. “People are buying it, but its not cheap.”

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