Demand for terrorism insurance is increasing among companies

Greenwich Time ^ | 8/24/06 | Puppage

[Puppage]

Five years after the attacks of Sept. 11, 2001, American companies are increasingly purchasing terrorism insurance to cover their facilities and other physical assets.

Nearly six in 10 large- and mid-sized U.S. businesses obtained insurance to cover property terrorism risks last year, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004, according to Scott Patterson, managing director of the Norwalk office of Marsh Inc., a risk and insurance service consulting firm.

[2banana]

Wondering how they define "terrorism" - that could be a wide loophole for America's trial lawyers...

[kinoxi]

Why does this strike me as morphing into 'protection money'.It's insurance against muslims attacking.

[MinorityRepublican]

It only makes sense for companies to buy insurance if they are located in "primary target zones" which are New York City and Washington D.C.

[mrsmith]

The Quasi War with France cost less than the cost of insuring ships against French capture.

Of course you can't find an enemy like France just anywhere.