Sompo Japan Nipponkoa Insurance to offer terrorism insurance globally

Japan's Sompo Japan Nipponkoa Insurance Inc. will start providing terrorism insurance globally in April, reported Middle East Insurance Review citing The Nikkei.

The insurer will offer up to 5 billion Japanese yen ($44.5 million) in terrorism coverage, while premiums will vary by country or region. The policy will cover damage to buildings under construction and income lost during forced shutdowns of facilities. Attacks with biological or chemical weapons will be excluded under the coverage. Sompo Canopius A.G. will provide reinsurance.

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