Policy Issues

Abstract
With a considerable number of acts of national and international terrorism recorded in the last thirty years2, terrorism was certainly not an unknown exposure for insurers before 2001. Private insurance covered most terrorism risks, which were viewed as a manageable exposure. Terrorism risk insurability was only an issue in a few countries historically highly exposed to terrorism, and mainly Israel, South Africa, the United Kingdom and Spain3 – where governments had decided to step into the terrorism compensation process, although to various degrees. With a considerable number of acts of national and international terrorism recorded in the last thirty years2, terrorism was certainly not an unknown exposure for insurers before 2001. Private insurance covered most terrorism risks, which were viewed as a manageable exposure. Terrorism risk insurability was only an issue in a few countries historically highly exposed to terrorism, and mainly Israel, South Africa, the United Kingdom and Spain3 – where governments had decided to step into the terrorism compensation process, although to various degrees.
Keywords

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