ARPC and Institute of Economics and Peace Research Paper
Terrorism in the OECD – A Research Project funded by the Australian Reinsurance Pool Corporation
To protect Australia from economic losses caused by terrorism catastrophe
Effective Terrorism Exclusions
Effective terrorism exclusions
Section 8 of the Terrorism Insurance Act 2003 (Cth) (TI Act) provides that terrorism exclusion clauses in eligible insurance contracts have no effect in relation to loss or liability arising from a declared terrorist incident (DTI). Section 8(2) of the TI Act states: “For the purpose of sub-section (1), “terrorism exclusion” means an exclusion or...