News review: January - Terrorism reinsurance difficulties
Insurers were refusing customers cover for chemical, biological andnuclear attacks, blaming trouble ...
Insurers were refusing customers cover for chemical, biological andnuclear attacks, blaming trouble with reinsurers. Norwich Union (NU) saidit began writing to domestic policyholders six months ago, warning itwould only cover 'traditional' terrorist attacks, such as bombings.Director of underwriting John Seaton said insurers began reviewing theirpolicy wordings in relation to terrorism at the beginning of last year. ARoyal & Sun Alliance spokeswoman said it was soon to introduce new
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