As the debate over the renewal of the Terrorist Risk Insurance Act (TRIA) heats up in the United States, Aon Risk Solutions released its 10th annual Terrorism and Political Violence Map in an attempt to help companies assess risk levels of political violence and terrorism.
Aon’s 2013 Terrorism and Political Violence Map points to a continued threat of a terrorist attack or political violence as 44 percent of countries measured have an identifiable risk of terrorist attacks. This trend is especially prevalent in African and the Northern African countries.
Despite 19 countries showing improved terrorism and political violence ratings, including the U.K. and Germany, Aon urges continued and growing awareness of such risks among businesses looking to expand.
As recently as last week, industry organizations were responding to doubts express by the Consumer Federation of America about the need to renew TRIA as a safety net for U.S. insurers. The CFA cited the near-record level of assets among insurers (nearly $600 billion) as evidence that the industry has the capital needed to handle potential terrorism claims without federal assistance.
Produced in collaboration with global risk management consultancy The Risk Advisory Group plc, the 2013 map is complimented by an online and interactive version providing clients a clear global and country level view on terrorism and political violence ratings.
Europe has the most positive regional outlook, with 47 percent of the countries possessing lowered risk ratings this year. This reflects receding civil unrest associated with the financial and economic crises, as well as limited incidents of terrorism outside of Greece and Northern Ireland.
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