Updated On January 10, 2012
The Terrorism market remains cautious in the wake of recent world events particularly in Syria, Egypt, and the Democratic Republic of Congo, with rates remaining flat to 5% upwards. In some cases however, we are seeing dramatic increases for businesses in Syria brought about by the 2011 uprising, with limited capacity available. Public demonstrations first took place on 26 January 2011, but were only a sporadic occurrence until mass protests erupted in Daraa on 17 March. The situation has quickly developed into a full-scale nationwide revolt, with protesters demanding the resignation of President Bashar al-Assad and the overthrowing of the government, with over 4,000 people having been killed.
The uprising is part of the Arab Spring, a wave of social upheaval throughout the Arab world inspired by the successful revolutions in Tunisia and Egypt and underwriters continue to maintain a watching brief for this part of the world.
Other so called usual hot spots include Afghanistan, Pakistan and Iraq and with the recent demobilization of the US military in totality from this country, we are beginning to see a marked increase in terrorism events.
US troops have trained up Iraqi security forces which, if they stick together, can arguably contain the internal security situation, but there is still a very high level of violence which kills on average around 350 people every month.
While most Iraqis believe it was high time for the Americans to go, many are deeply worried about the challenges that lie ahead.
With the reported possibility of Israel launching a strike on Iran to prevent development of nuclear weapons, the beginning of 2012 continues to embroil countries with tough times ahead.