News

News
Mining & Underground Risks
Alliances & Links

News

Latest News

17 February, 2016

Important update to terrorism levy

The 2015 review of the Terrorism Insurance Act 2003 (TI Act) has resulted in an increase in the terrorism levy. Applicable to all participating insurers, the changes will take effect from 1 April 2016. Click on the above Important Update to see the changes:

 
The 2015 review of the Terrorism Insurance Act 2003 (TI Act) has resulted in an increase in the terrorism levy. Applicable to all participating insurers, the changes will take effect from 1 April 2016. 

The rate changes are outlined below: 

Tier          Rate          New Rate

A              12.00%       16.00%

B               4.00%         5.30%

C               2.00%         2.60%

 

 

Back to February 2016