War insurance may attract more funds despite heightened risk, says underwriter

THE appetite for insurance that provides cover against damage resulting from acts of war or terrorism could grow bigger amid rising geopolitical tensions because people see money to be made in this insurance segment, an experienced underwriter has said.

But Chris Lambe, a senior underwriter at Gard, said insurance brokers might have difficulty picking the right insurer for “war insurance” because of a mushrooming of choices in this insurance segment. Gard says it i…