Global conflicts drive demand for war risk insurance

Global conflicts in Ukraine and the Middle East are fueling demand for war risk insurance, with individuals and companies seeking coverage for damages caused by warfare and terrorism. Specialist insurers in the City of London dominate this market, providing policies to safeguard operations and assets worldwide. Premiums typically range from 0.5% to 2% of total cover, varying based on the risk level of different regions. The war risk insurance market continues to expand, offering coverage for a wide range of perils like kidnappings, injuries, and active shooter situations, reflecting the evolving demands in an increasingly volatile world.