Terrorism risk insurance, whether through traditional or stand-alone policies, is an increasingly important element of domestic corporate insurance programmes, according to a new Rims professional report titled, Terrorism Insurance: Understanding the Boundaries of Coverage for a Risk Without Borders.
It has been written by Micah Skidmore of Haynes and Boone, and provides corporate risk managers, insurance brokers and coverage counsel with guidance on determining if terrorism risk insurance coverage is necessary and identifying terrorism risk solutions that exist in the market.
The six-page report also offers insight on negotiating for terrorism coverage.
“While concern over terrorism risk is palpable, information and understanding of terrorism risk insurance is not as well known,” said Mr Skidmore.
“With terrorism risk being an unfortunate reality, corporate risk managers and counsel can take proactive measures to contain a risk that otherwise knows no bounds.”
For the first 60 days after its release the report is available exclusively to members of the Risk and Insurance Management society, after which time it will be made available to the broader risk management community.
Further details about Rims and its publications are available from www.RIMS.org.