November 14, 2017 by Greg Meckbach, Associate Editor
Brokers who watched the final panel of insurance chief executive officers (CEOs), at the recent RIMS Canada’s annual conference, would have heard that the Corporation of Lloyd’s perceives terrorism and nuclear incidents as two of today’s “top four” man-made threats.
Power outages and a market crash are the other two man-made threats that comprise the top four, Lloyd’s Canada chief executive officer Sean Murphy said during the RIMS Canada CEO Panel Plenary.
At the time, Murphy was alluding to the Lloyd’s City Risk Index, which uses research from the University of Cambridge.
While the September 11 attacks 16 years ago are, no doubt, still fresh in many brokers’ minds, the threat of future terrorism and nuclear incidents should be top of mind. This is not because one should always fear the worst, but the issue for brokers is that for many policyholders, a terrorist attack would be excluded from a property policy.
Read the full article in the Digital Edition of the October 2017 Canadian Underwriter.
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