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Indian insurers offer a doughty cover against terror. But can they safeguard their own interest?

Indian insurers offer a doughty cover against terror. But can they safeguard their own interest?
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An advertising screen in Mahim, Mumbai, after the 26/11 terror attacks.

Synopsis

With 26 insurance companies as members, Imtrip covers property against terrorism-related damage. It is the most profitable business in the general-insurance industry today. But it has one risk: a huge claim can wipe out all the reserves it has accumulated so far.

By
5 mins read,
On Friday, terrorism reared its ugly head once again when a gunman burst into a mosque in Christchurch, New Zealand, killing 49. The attacker even streamed the killings live on Facebook. Recent attacks like this and the one in Pulwama, which killed over 40 CRPF soldiers last month, have serious political, military, and economic repercussions. While the country has been the target of numerous such terror incidents in the past two decades, India’s
( Originally published on Mar 18, 2019 )

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