Typically, life insurance policies contain few exclusions; these would be for fraud, acts of war, etc. Terror attacks aren't considered "acts of war" in the traditional sense, so aren't usually excluded. Now, if one's job requires spending quality time in the oil fields of Saudi Arabia (for example), that might raise an underwriter's eyebrows.
So I'm not sure exactly what to make of this developement:
"The director of Iraq’s state-owned national insurance company has launched a program that offers the world's first-ever life insurance policy against terror attacks to professors and other business professionals."
Anyone who reads the news knows that there is certianly cause for at least some concern about terrorism in that neck o' the woods. It's interesting, too, that different countries (markets) face different risks and needs. One supposes that this should be obvious, but that's not always the case.
This particular effort seems to me to be more of a marketing ploy than anything else (NTTAWWT): by "targeting" [ed: nice word choice there, Prof] certain professions and professionals, it's hoped that more sales can be made. A beneficial effect of that is hoped to be a lessening of the "brain drain" currently manifest in Iraq; for some time now doctors, engineers, academics and highly skilled workers have been streaming out of the country. Staunching this flow is a primary goal of the new plan and marketing designs.
Should make for some interesting sales calls.