Unlike 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.
Marsh’s 2018 Terrorism Risk Insurance Report, produced with support from Guy Carpenter, explores the state of the terrorism insurance marketplace, presenting data on purchasing and pricing trends.