Country Profile – Australia: Terrorism reinsurance scheme in Australia
Source: Asia Insurance Review | May 2010
The Australian Reinsurance Pool Corp (ARPC) offers optional terrorism reinsurance, covering eligible losses in the case of declared terrorist incidents in Australia. Over the past two years, the ARPC has purchased substantial retrocession in order to encourage commercial insurers back into the Australian terrorism insurance market. ARPC’s Client Service Manager, Mr Michael Pennell, explains.
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