The terrorist attacks in Mumbai, India, may raise rates for terrorism risk coverage, but should not impact the overall insurance market, one expert suggested.

"In terms of losses, the attacks in Mumbai are not a market-turning event for the insurance industry generally," said Alex Clayton, executive director at Willis Global Markets International in London.

"However, the losses may significantly impact the terrorism insurance market," he added. "It now seems that the hotels are insured against the peril of terrorism through the Indian terrorism pool, which in turn is reinsured in London."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.