2026-07-16 · Source: The Geneva Association
Summary in 3 Points • The Geneva Association and IFTRIP report identifies gaps in CBRN insurance coverage, urging enhanced cooperation to manage risks • Emerging technologies like drones and bioengineering lower barriers for violent non-state actors to access CBRN materials • The UK Government warns of a likely terrorist CBRN attack by 2030, stressing the need for improved risk management frameworks --- A joint report by the **Geneva Association** and the **International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP)** examines the implications of chemical, biological, radiological, and nuclear (CBRN) risks for the re/insurance sector. The report identifies significant gaps in traditional insurance coverage for CBRN-related losses, with national insurance pools varying widely in their approaches. Emerging technologies, such as drones and bioengineering, are making it easier for violent non-state actors to access CBRN materials, raising concerns about preparedness and financial resilience. The UK Government has warned of a likely terrorist CBRN attack by 2030, highlighting the urgency of addressing these threats. For the **London Insurance Market**, the report's findings are particularly relevant to property and casualty (P&C) insurance, where CBRN risks are often excluded or heavily sublimited. London plays a crucial role in the global re/insurance landscape, and the potential for a major CBRN incident could significantly impact the market's capacity to underwrite such risks. The report suggests that enhanced cooperation between governments, insurers, and international policy organisations could lead to more effective risk management frameworks and cross-border risk-sharing mechanisms, which are essential for maintaining market stability. **Underwriters** and **brokers** in the London Market should consider the implications of the report's findings on their current risk assessment and modelling practices. The potential for a major CBRN incident necessitates a re-evaluation of existing coverage exclusions and sublimits, as well as the exploration of innovative solutions to bridge the protection gap. **Risk managers** should prioritise dialogue with involved parties to develop comprehensive strategies for managing CBRN exposures, ensuring that future incidents do not result in devastating human or economic losses.
For the London Insurance Market, the report's findings are particularly relevant to property and casualty (P&C) insurance, where CBRN risks are often excluded or heavily sublimited. London plays a crucial role in the global re/insurance landscape, and the potential for a major CBRN incident could significantly impact the market's capacity to underwrite such risks. The report suggests that enhanced cooperation between governments, insurers, and international policy organisations could lead to more effective risk management frameworks and cross-border risk-sharing mechanisms, which are essential for maintaining market stability.