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Article: Demand for terror coverage continues to fall in Germany.(Extremus. terrorism insurance)(inaugural meeting of the World Risk and Insurance Economics Congress)(Brief Article)
- Article from:
- Best's Review
- Article date:
- September 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 A.M. Best Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An enduring mystery in the German insurance market is why German companies do not feel compelled to buy coverage for terrorism risks, despite major attacks in London this year and Madrid, Spain, last year.
Speaking at the inaugural meeting of the World Risk and Insurance Economics Congress in Salt Lake City, Christian Thomann, economics professor at the University of Hannover in Germany, said the necessity for terrorism coverage was reinforced by the series of bombings in London and Madrid since the Sept. 11, 2001, terrorist attack in the United States.
"We see from these events that terrorism is not going away," he said.
Germany provides ...