Leader's Edge Magazine’s Post

Terrorism has become an unfortunate reality in today’s world. It not only poses a threat to human lives but also to property and infrastructure. These attacks can have devastating consequences for property owners and investors. Take a look at the implications such incidents cause on the property sector and why insurance cover is essential for mitigating the financial risks associated with these 👇 https://bit.ly/3VUwlvU Contact our Head of Terrorism Daniel Moorcraft to find out more. #insurance #propertyinsurance #buildinginsurance

A very helpful summary of the Terrorism (Protection of Premises) Bill (also referred to as Martyn's Law) by Duncan Strachan and Charlotte Shakespeare, which sets out all you need to know about what the intended new law will cover and the implications for the insurance sector. #martynslaw #insurance #terrorismrisk

The threat of strikes, riots and civil commotion (SRCC) is a growing concern for the insurance industry. Our recent research explores how this threat could manifest in the US over the coming months. To do this, we’ve used two proprietary tools developed for assessing this hazard: the SRCC Predictive Model and the SRCC Catastrophe Model. Our findings show that: ▪ SRCC risk levels in the US match those preceeding the 2020 riots ▪ The US ranks alongside South Africa, Colombia, Brazil and Chile among the countries most at risk over the next year ▪ The three US counties with the highest risk exposure are Los Angeles (California), New York (New York) and Cook (Illinois) Download the whitepaper today: https://lnkd.in/e-QMbhpf #SRCC #politicalrisk #politicalviolence #civilunrest #insurance

“The #premiums now payable for riot #cover, either through Sasria SOC Limited or the International Property Terrorism and Strikes (PTS) Insurance market have increased drastically – Sasria premium prices increased by 47% as #reinsurance costs increased by 600%. Furthermore, Sasria reduced its #coverage limits from R1,5bn for #assets and business interruption to R500m," explains Simon Baker, Executive Head: Retail at Aon South Africa. #insurance #insurancerisks #riot #riotcover #risk #riskmanagement #businessinterruption #businessinterruptioncover #terrorism #strikes

Terrorism Insurance Market Latest Report 2024-2030 Terrorism insurance is a type of insurance coverage that protects businesses, organizations, and individuals from financial losses caused by acts of terrorism. These acts may include bombings, shootings, cyber attacks, chemical or biological attacks, and other violent or destructive events carried out by terrorists. Terrorism insurance policies typically cover property damage, business interruption, and liability arising from terrorist acts. For Additional Information, Get a Sample Copy 👉👉 https://lnkd.in/dEbnB2Km #KeyPlayers 👉👉 AIG (American International Group), Chubb, Zurich Insurance Group, Allianz, Berkshire Hathaway Specialty Insurance, Liberty Mutual Insurance, Travelers, Hiscox, FM Global, Lloyd's of London Learn more about Scope; Make An Enquiry Before Purchase 👉👉 https://lnkd.in/dPMFENJk #TerrorismInsuranceMarket #TerrorismInsurance #Insurance #Insuranceindustry #Insurancenews #InsuranceMarket #htfmi #htf HTF Market Intelligence Consulting Pvt Ltd

Safeguard against uncertainty with terrorism insurance In the UK, the risk of terrorism is still very much a reality. Having sufficient insurance coverage can be the key to financial stability in the event of an attack. Terrorism insurance provides protection against financial losses resulting from acts of terrorism. Our latest blog explores the nuances of terrorism insurance, its relevance in the UK, what it covers, and what it doesn’t. It touches on Pool Reinsurance, a government-backed company that meets the cost of business property claims of a certain amount following a terrorism attack, and the latest updates of Martyn’s Law. https://lnkd.in/eae66R9E #terrorisminsurance #poolre #martynslaw

Global terrorism insurance market size is valued at $5.1 billion in 2024 and is forecast to register a growth rate of 3.9% to reach $6.9 billion by 2032. https://lnkd.in/gCMxbhKe

Estimated insured losses from New Caledonia’s ongoing civil unrest are set to top US$1 billion, with QBE Insurance and Allianz’s initial net exposure estimated to exceed US$215 million each, multiple industry sources exclusively told Heather Ng from InsuranceAsia News. https://lnkd.in/gSZACz7i “The issue is that it is more often than not embedded – so neither a named peril nor specifically excluded - so cover is being given but never recorded or aggregated (or priced for). As such a loss like this becomes a massive outlier,” Sandy Warne, global head of terrorism and political violence at Howden Re said. Claims are expected to come “predominantly from business interruption” claims, according to Joe Gardner, director for terrorism at Aon. Featuring other insights from political violence and terrorism brokers and underwriters: Lekha Peraboina- MENA RE, Nicole Snyman & Amber Meadows- Another Day, Gallagher Re's cisis-arm, Adam McGrath, Mosaic Insurance. If you are not a subscriber, take our free trial to read the full article: https://lnkd.in/g23jCVrn #analysis #political #businessinterruption #claims #pacific #newcaledonia

Insurance tip of the day: Recent newsworthy employee disruptions and sit-ins relating to protesting a company's operations and services in the Middle East has got me thinking about terrorism coverage on management liability policies. Terrorism coverage is not often thought of in the management liability context (and may be relegated to an afterthought, at best), and considering the qualifications needed to be satisfied in order to trigger coverage for a certified act of terrorism under TRIA, the likelihood of such an event occurring, is seemingly remote. Nevertheless, the distinction and pursuit of coverage for non-certified acts of terrorism on other lines of coverage may be something to consider on the management liability side of coverage as well. Policies that do mention terrorism, or affirmatively grant coverage for it, typically do so in relation to TRIA. Given the current environment of strongly-held beliefs regarding events in the Middle East, it may be time to consider adding coverage for non-certified acts of terrorism on management liability policies. #insurancetips #jackhasyourback #ITCrisk

Excited to share insights on terrorism insurance from Minet Insurance! Terrorism remains a global threat, and having the right insurance coverage is crucial. Minet offers comprehensive solutions tailored to mitigate risks and ensure peace of mind. Learn more about our offerings and how we can protect your business against unforeseen events. #MinetInsurance #TerrorismInsurance #RiskManagement