Magazine date:
Jan 2017 With the ever-growing terrorist threat in India, the regulators are striving to increase the capacity of the terrorism pool which will consequently go from 236 million up to 283 million USD.
All of the local insurers as well as the national reinsurer GIC, in charge of management, are members of the pool, set up in April 2002 following the attacks of the twin towers of the World Trade Center in New York. The low loss experience witnessed in recent years has made it possible to lower the premiums from 78 million USD for the 2012/2013 year to 74 million USD for the 2013/2014 year.