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American Insurance Group raised the coverage limit of its terrorism risk policy to one billion USD, four times the capacity offered to date. This limit has been offered to the customers keen on contracting a policy that is exclusively dedicated to terrorism risk or as an extension to the fire cover of major risks.
In the latter case, the comprehensive policy may reach the limit of 2.5 billion USD per event. Maximum limit for a terrorism cover used to be capped at 250 million USD even in highly-populated areas. This increase comes as a result of the growing demand received by the insurer, especially from multinationals.
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