Terrorism risk insurance affordability has improved over the past five years, according to a new report.
New York-based reinsurance broker Guy Carpenter & Co. said in the study put out today that despite increases in risk retentions required under the 2002 Terrorism Risk Insurance Act, insurers have allocated additional capacity to terrorism risk, prices have declined and take-up rates by policyholders have increased.
The report cites better risk management and modeling for terrorism attacks with greater reinsurance capacity as factors improving the market climate.
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