Insurers hit by new terrorism costs - papers 18 July

Just days after the Office for National Statistics said UK inflation was being held in check partly by steady motoring insurance rates, along comes The Times today to warn that the Treasury may be about to force the UK insurance industry to cough up more cash to cover terrorism liabilities. Negotiations between the government and insurers over Pool Re, the pot created to cover terrorism related insurance costs, have resulted in demands that insurers pay out more money and double premiums for insurance against terrorist incidents. The problem is that Pool Re currently only cove...