The stand-alone terrorism insurance market is growing healthier, but customers in high-risk zones can pay a substantial premium, and the expiration of the Terrorism Risk Insurance Act may only exacerbate the situation in the United States, according to an insurance broker's report.
Chicago-based Aon's London office has issued a report titled “Stand-Alone Terrorism Insurance Market Update,” reviewing the history and current status of the stand-alone market.
The report said the terrorism insurance market has increased capacity, filling a gap worldwide, and since 2002 rates have declined 40-to-50 percent, but some hot spots are the exception.
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