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No Rush for Terrorism Insurance Following Arrests

BOSTON-The arrest of 24 suspected terrorists in Britain hasn't created a run on terrorism insurance by US businesses, an industry expert tells GlobeSt.com.

By Beverly Ford | Updated on August 11, 2006

BOSTON-The arrest last week of 24 suspected terrorists by British authorities isn’t expected to spark a rush on terrorism insurance by US businesses, an industry expert tells GlobeSt.com.

Les Hayward, managing director in the Boston office of insurance brokerage giant Marsh Inc., says a terrorist plot to blow up US-bound airplanes using liquid explosives has not set off a widespread buying spree by firms concerned over becoming a target of terrorists.

“We’ve not seen a knee-jerk reaction either on the market’s part or on the client’s part,” Hayward says. “I think this latest incident shows how good our global anti-terrorism network actually is. If I were an underwriter, I’d take some solace in knowing that we beat them this time.”

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