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The deadly terrorist attacks in Paris and Brussels have prompted some buyers to add event cancellation and related coverage to their terrorism insurance programs in addition to reassessing their security procedures.
"We have seen a definite uptick in both inquiries and orders related to terrorism coverage related to events," said Averil Gray, a London-based director at Aon Risk Solutions, a unit of brokerage Aon P.L.C. "This interest has been primarily focused on Europe, but we are also seeing more orders out of the U.S."
In Europe aside from buyers in France and Belgium, buyers in the Netherlands and Germany also are more interested in terrorism coverage, she said. And demand has increased for events cover in Turkey.
Since the terrorist attacks in Brussels in March and in Paris last November, buyers have shown more interest in event cancellation coverage, said Tim Davies, head of sabotage and terrorism at specialty insurer Sompo Canopius in London.
As well as transport hubs, the recent attacks included bombings and shootings at a concert at the Bataclan theater...