Businesses believe terrorism insurance is a valuable risk management component, so slightly more firms have purchased it and retained it despite property insurance rate increases in 2005, according to an insurance brokerage.
Marsh, a subsidiary of the New York-based services firm Marsh & McLennan Companies, said 59 percent of companies in the United States purchased or renewed their property terrorism coverage in 2006, up one percentage point from 2005.
The report surveyed 1,437 businesses ranging in size from small accounts with total insured value of less than $100 million to major accounts with more than $1 billion in total insured value (TIV).
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