As the awareness of terrorism in the Middle East grew amongst businesses operating in the region, many foreign and domestic investors began to flee several countries in the area hoping to escape costly losses as the result of attacks. Pakistan was particularly impacted by the exodus of businesses. Over the years, however, the Exchange Commission of Pakistan (SECP) has been working to attract investors to the country. One of the ways the commission aims to accomplish this goal is to introduce a new insurance pool designed specifically with terrorism risk…
Read MoreTag: insurance for terrorism
Hiscox launches new terrorism insurance products geared for the health care industry
Hiscox, a specialty insurance company, has launched a new line of terrorism insurance geared for health care providers, hospitals and researchers. Hiscox claims that this is the first insurance product of its kind to be offered in the U.S. It would seem that such insurance coverage would fit well in a nation that has been on heightened awareness for terrorism for the past 10 years. However, no major attack has occurred on U.S. soil since September 11, 2001. Whether Hiscox’s new insurance offering will be successful in light of this…
Read MoreHow to measure the risk of terror
Post anniversary to September 11, the horrible event occurring over ten years ago now, there has been a tremendous change to the way that border security and terrorism have been viewed in the United States. This is true of the government, businesses, individuals, and the insurance industry, which suffered tremendous losses to its own people when the planes hit the twin towers of the World Trade Center in New York City. Though damages resulting from acts of terrorism had been covered in typical all-risk commercial policies before the attacks, after…
Read More