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Terrorism insurance policies sought by Pakistani corporations

May 2, 2014April 30, 2014 H. Cutner

Some strategic moves have been made within the country in order to help to mitigate the terror risk. The chief regulator in Pakistan has been trying to encourage the Pakistan Reinsurance Company Ltd. to write terrorism insurance policies for businesses within the country, in order to protect them against the damage and the liabilities from that kind of attack. So far, the reinsurer has expressed no discernible interest in providing that type of coverage. That firm has managed to completely sidestep the efforts of the chief regulator that would have…

Terrorism insurance program overdependence not recommended by A.M. Best

October 15, 2013January 7, 2014 Julie Campbell

The rating agency has said that this tendency could lead to a considerable problem in the United States. A.M. Best, the large rating agency, has provided insurers with a bold recommendation, which is not to build an overreliance on whether or not there is a reauthorization of the terrorism insurance program in the United States. The future of that program remains up in the air and A.M. Best feels that it is wiser not to completely rely on it. The agency feels that insurers should not count on the Terrorism…