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Chapter 9 Reinsurance market 9/31

For reinsurance contracts, cover is as provided by the ARPC. Retentions are currently A$100,000
(minimum) and A$10m (maximum) per carrier, per annum, and A$100m across the industry per event.
As at October 2017, the pool retains the first A$350m of the scheme, a retrocessional programme for the
next A$3bn is in place with various global reinsurers and above that there is a guarantee from the
government of A$10bn.

F1E Canada

Canada has anti-terrorism legislation but none of it is insurance-related. Exclusions apply for most
insurance policies. Some reinsurance cover is available but typically for those exposures regarded as
low risk, such as in rural areas.
Reinforce
Before you move on, evaluate the approach that each country listed takes to the provision of terrorism cover. How
does the approach fit the territory in question and the perceived vulnerability its people and its property might have to
the activities of terrorists?

Useful website
For the latest information, visit the Organisation for Economic Co-operation and Development (OECD) website and
find the section detailing terrorism risk insurance programmes by country. www.oecd.org/ Reference copy for CII Face to Face Training Chapter

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