July 8th, 2009

Global Terror Update: Italy

Posted at 1:00 AM ET

global_cover141x141There is no terror pool or government involvement in terror coverage. However, the Italian National Insurance Companies Association (ANIA) is considering a possible proposal to the government for the creation of a specific pool.The majority of insurance policies covering property damage in Italy exclude terrorism risks where the sum insured exceeds EUR50 million (USD70 million). Risks in personal lines and small- to medium-sized risks in commercial lines generally fall within this limit. The options open to insurance companies are fairly restricted. If available at all, terrorism cover in excess of EUR50 million (USD70 million) is quite costly.  

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