Posts Tagged ‘terrorism’

August 16th, 2018

Being Prepared for Cyber Terrorism

Posted at 1:00 AM ET

terrorism-rep-connections-banner-2Cyberattacks backed by hostile governments are increasingly a reality; companies should adopt strategies to strengthen cyber resilience.

Marsh’s 2018 Terrorism Risk Insurance Report, produced with support from Guy Carpenter, suggests that companies should implement strategies for scenario-based testing, quantifying the potential financial impact of an attack and reviewing options for transferring the financial risk from cyberattacks via insurance. Continue reading…

July 31st, 2018

TRIPRA: The Need to Ease Rating Agencies and Regulators’ Concerns

Posted at 1:00 AM ET

terrorism-rep-connections-banner-2In 2018, the minimum industry trigger for the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA) increased to USD 160 million, contributing to continued rating agency concerns. In late 2017, A.M. Best updated its terrorism methodology and fully integrated the peril into its stochastic Best’s Capital Adequacy Ratio (BCAR) Model. Continue reading…

June 21st, 2018

Captives Offer Access to Capital

Posted at 1:00 AM ET

Captive owners are seeking options for coverage of terrorism and other high-severity risks. Among other benefits, captive owners gain flexible options to finance emerging and high-severity risks, such as cyber liability, terrorism, and cyber terrorism.

Continue reading…

June 11th, 2018

Standalone Terrorism Insurance Remains Competitive

Posted at 1:00 AM ET

terrorism-rep-connections-banner-2Unlike coverage under the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is normally made available within annual “all-risk” property policies, a standalone property terrorism insurance policy does not require the government to certify an act of terrorism in order for a claim to be paid. Companies may purchase standalone property terrorism insurance as an alternative to TRIPRA coverage or to augment it. Standalone pricing is competitive and is expected to remain so in 2018, barring a significant change in circumstances. Standalone policies can offer broad terms and conditions.

Continue reading…