European insurance stocks drop after blasts


FRANKFURT, Germany (AP) - Allianz AG said it was facing a euro1 million to euro9 million (US$1.2 million to US$10.7 million) exposure from the bus and subway explosions in London on Thursday because of its participation in a terrorist-risk coverage plan led by the British government. 

The plan, adopted in 1993 following several attacks by the Irish Republican Army, covers most of the cost of damage to property and business interruption by any terrorist attacks. 

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