Insurance brokers in Boston and New York are in the midst of a small business boom due to fears of terrorism at this summer’s Democratic and Republican national conventions. Brokers report that more property owners are adding to their liability coverage to insure against losses from a terror attack — an increasingly popular form of insurance in other parts of the country as well, thanks to the federal government’s financial backing of such policies. The upcoming Democratic convention in Boston and Republican convention in New York are an opportunity for brokers in those citites to make pitches to new customers and to urge existing clients to add terrorism coverage to their policies. “We said to them, your policy is coming up for renewal, the convention is coming up, and now is the time to buy terrorism insurance,” said Mike Chapman, chief sales officer for Hub New England, the regional office for insurer Hub International. “I only had one client come back to me who elected not to get the coverage.” Full Story
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