The property insurance take-up rate for terrorism coverage continues to rise, with 61 percent of companies surveyed by Marsh–a record high–buying the additional protection against catastrophic risk.
In its “Terrorism Risk Insurance 2010″ market report, Marsh said the number of purchasers has continued to rise since 2003, when only 27 percent of those surveyed bought property terrorism coverage. In 2008, the number had dropped from a high of 59 percent to 57 percent.
In 2009, companies in the utility, real estate, health care, transportation, financial institution and media industries led the way in purchasing property terrorism insurance, with take-up rates topping 70 percent.
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