Business Insurance will be back online in October. Please check back then to subscribe/register.

All existing subscriptions will be honored. Contact info@businessinsurance.com with any questions.

GLOBAL FOCUS

Reinsurers willing to forgo terrorism exclusion clauses, say brokers

Comments Email Reprints

Brokers have said reinsurers are willing to withdraw clauses that exclude terrorism in contracts amid increasing competition, Interfax reports citing the Financial Times.

Such clauses had been part of contracts since the Sept. 11, 2001, terrorist attacks, which had led to the insurance sector losing around $40 billion, Forinsurer reported.

Some other clauses are also set to be relaxed during the annual reinsurance renewals.

Read more

More from BI