TERROR INSURANCE
February 1st, 2003
BY PHILIP FINE
AMERICAN businesses seem to be shying away from the country's newly available terrorism insurance policies, saying they cost too much money.
Under a mandatory federal programme, insurers have been required to provide separate insurance to commercial policyholders for events defined as terrorism and causing at least US$5 million in losses; President Bush signed the law last November and the insurance carriers had until February 24 to inform policyholders how much they would have to pay for the coverage.
But one of the largest players, Hartford ...
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