Throwback Thursday: Manchester bomb blast
Insurance Post’s Throwback Thursday steps back in time to July 1996 to remind you what was going on this week in insurance history when insurers were counting the cost of the Manchester bomb blast.
11 July 1996: Manchester bomb blasts through £400m barrier
The cost of the Manchester city centre bomb to insurers was set to be 30% more than previous estimates, according to the Chartered Institute of Loss Adjusters.
Eight leading adjusters – who between them were handling 95% of the claims – advised insurers to set aside more than £400m for claims, David Worsfold and Jon Guy reported.
The news came as Pool Re revealed it had covered all the “mega” losses of the blast.
The Manchester bombing was an attack carried out by the Provisional Irish Republican Army on 15 June 1996.
The IRA detonated a 1,500-kilogram lorry bomb on Corporation Street in the centre of Manchester, England.
It was the biggest bomb detonated in Great Britain since the Second World War.
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