The demand for Strike, Riot, Civil Commotion and Terrorism insurance in Sri Lanka has suddenly increased according to several local insurance companies.
This is after last Sundays Easter bombing which had killed over 350 people including foreigners.
An official from Ceylinco Insurance said that they have suddenly seen a surge of requests for ‘add-ons’ for this cover especially from the corporate sector. “Companies want to add the terrorism cover to their existing insurance covers,” he said.
Meanwhile Sri Lanka Insurance also endorsed this and said that they are expecting to see a new demand for terrorism insurance. This scenario is also seen in the Motor Insurance segment as well as Insurance agents are calling vehicle owners and asking them to get insulated against Civil Commotion and Terrorism insurance with an additional fee. The response is increasing. (SS)
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