Iraq insurance premiums double - Cost of doing business soars

Iraq insurance premiums double
Cost of doing business soars
CNN's Diana Muriel
Thursday, April 15, 2004 Posted: 1150 GMT (1950 HKT)

(CNN) -- Increasing threats of targeted attacks and hostage-taking is complicating the work of contractors working on reconstruction in Iraq. The dangers have forced a change of tactics in order to avoid becoming targets.

But for many the increased risk is too much -- as insurance premiums soar for international contractors, many are pulling out.

The recent wave of kidnappings in Iraq has sent shock waves around the world. But the murder of an Italian hostage -- although a tragedy -- was not entirely unexpected.

Anne Williams of London insurance brokers Heath Lambert told CNN: "I don't think it changes things significantly now because it has been in the last two weeks that everything has escalated there and rates increased to reflect this potential ... this type of thing actually happening.

"Depending on what happens in the future rates may increase but I don't see them increasing in the next 48 hours."

(more)

http://edition.cnn.com/2004/WORLD/meast/04/15/iraq.contractors/

for the American people to countenance.

The sad part is, the financial cost will eventually be what pulls us out- not the cost in blood.

Jesus wept.

are not showing patriotism well. I bet they all have flags waving in front of the corporate offices too. They are "against" the troops but I bet their stock price goes up.

maybe we'll have a seperate IMF warning about the empire building deficit next.

gravy train.