Catlin Bermuda has blazed a trail in the insurance and reinsurance world with the creation of coverage for a nuclear, chemical, biological or radiologic (NCBR) terrorism.

Insurers have been reluctant to provide coverage for NCBR attacks, partly due to the accumulation of risk, but Catlin aims to reduce that by restricting the policy to a pre-defined geographic area.

Catlin's NCBR policy can cover most types of underlying forms of insurance, including workers compensation, property damage and business interruption.

With the sarin gas attacks in Tokyo in 1995, the anthrax attacks of 2001 and planned ricin attacks foiled in the past two years, a leading catastrophe modelling agency has pegged the probability of a terror attack using nuclear, chemical, biological or radiologic means to be at five percent.

The coverage could be on any size land from just a quarter square mile on up to state or province size and can be for a variety of risks — airports, sports arenas, large office buildings