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Benfield looks at Swiss terrorism coverage.
(From Reinsurance)
Broker Benfield has created a new terrorism reinsurance facility that looks at potential property risks for the Swiss insurance market.
The company has created a customised version of its live underwriting system, Exposure Evaluation and Control Tool (Expect), to monitor concentrations of terrorism risk at street level.
Created in association with the Swiss Insurance Association, it allows all private property insurers with licences to operate in Switzerland to cede all property risks with a sum insured for buildings, content or business interruption of between SFr 10m ($7.4m) and SFr 100m ($74m).
The maximum indemnity limit for anyone insured is SFr 150m, with a maximum event limit of SFr 330m.
Risks with a smaller sum assured will continue to be covered by the primary insurers, who ...
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