Experts: Many terrorism-insurance pools are based on outdated risk

06/13/2013 | Business Insurance (tiered subscription model)

The risks addressed when some terrorism-insurance pools around the world were created were different from present-day risks, according to a technical guide issued by Airmic and Willis Group Holdings. "Globally speaking, the terrorism threat is complex, nuanced and constantly evolving," Willis' James Borrie said in a statement. Some terrorism-insurance plans were established following the Sept. 11, 2001, terrorist attacks but vary in their coverage, which Borrie said "makes the design of a truly comprehensive global terrorism insurance policy very complex."

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