The United States is the world’s largest buyer of terrorism insurance, and U.S.-based organizations continue to purchase coverage at a high rate. In 2018, the take-up rate for TRIPRA coverage embedded in U.S. property policies was 62 percent. Take-up rates have remained close to 60 percent over the last several years.
The percentage of companies that purchased terrorism insurance — and the amount they spent on terrorism insurance as a portion of their overall premiums — varied significantly by industry in 2018. Education institutions, media organizations, financial institutions, and real estate companies were the most frequent buyers while transportation and hospitality and gaming companies spent the most on terrorism as a percentage of their total premium spend due to their perceived vulnerability.
Guy Carpenter affiliate Marsh has released its new Terrorism Risk Insurance Report, which explores the state of terrorism and the terrorism insurance marketplace in key regions.