RealNews

New Business Blooms in Iraq: Terror Insurance

Twice in the past year, Muhammad Said has survived assassination attempts that left his car riddled with bullets. He works part time as a bodyguard for his father, a Baghdad city councilman, and helps a friend who has contracts with the American military. Both are very dangerous jobs. So last month, Mr. Said, a slim, baby-faced 23-year-old, did what a small but growing number of Iraqis are doing: He walked into the offices of the Iraq Insurance Company and bought a terrorism insurance policy. It looked like an ordinary life insurance policy, but with a one-page rider adding coverage for “the following dangers: 1) explosions caused by weapons of war and car bombs; 2) assassinations; 3) terrorist attacks.” Full Story

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