OREANDA-NEWS. December 30, 2013. If Kazakh insurers will include terrorism risks covered by insurance, its cost increases to 0,035-1,5 %. Terrorist risks is almost impossible to calculate, and also the Government together with insurance companies and customers by their own motives are trying to avoid the word "terrorism" in description of the disaster.

Many insurance companies do not cover damage caused by terrorist attacks. In the first place, complications arise from the insurance company in investigating the case because of the country's authorities and customers.

Each of these parties has different interests, for instance, the Government, in order to avoid panic among the population, does everything that the event was not related to an act of terrorism. Clients of the insurance company is also trying to prove that the terrorist act was not, as in the main policy of terrorism is no exception and is not covered by insurance.

To date, only a limited number of insurance companies in the world takes the risks of terrorism insurance. This is because when the insured event appears, the insurer may incur large losses, and most importantly with difficult assess. Executive Director of Eurasia Insurance Company Mr. Kabdolov Samat said that in many countries, insurance against terrorist attacks is one of the additional coatings that buy in addition to existing property insurance .

"These risks are specific and, therefore, terrorism insurance rate increases the cost of a standard insurance package . Depending on the type of the object, when the terrorism risk insurance in the insurance rate will increase by 0.035 % to 0.1 %," - said Mr. Kabdolov , adding that " Eurasia " is engaged in terrorism risk reinsurance for over 5 years and has experience insurance against terrorist attacks in Russia , Azerbaijan and the Middle East. The expert shared the observation that the fastest-growing market for this type of insurance can be considered India. The insurer cited the example of the terrorist attack in Mumbai, when in 2008 terrorist attack caused damage to the insurance company more than USD70mn

Samat Kabdolov said that in some countries, companies were pooled insurance for terrorist acts large industrial facilities. Amount of loss can be accounted for millions of dollars, so for such security risks, the company should have a well-capitalized and well-functioning risk management system of the insurance portfolio.