Should IAG and QBE shareholders worry about terrorism?

On December 15, the Sydney CBD went into lock-down when a gunman took 17 people hostage in the Lindt Cafe at Martin Place. Was it terrorism or a rogue criminal? Over the coming weeks, Federal Treasurer Joe Hockey will decide. And whether the Sydney Siege is declared a ‘terrorist incident’ has wide-ranging implications for insurers such as IAG (ASX: IAG), QBE (ASX: QBE) and Suncorp (ASX: SUN).   Following the September 11 attacks, insurers started to introduce terrorism exclusion clauses. To curb the practice, the Terrorism Insurance Act 2003 formed the Australian Reinsurance Pool Corporation (ARPC), which enables insurers to...

On December 15, the Sydney CBD went into lock-down when a gunman took 17 people hostage in the Lindt Cafe at Martin Place.

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