Terrorism rates are set to rise in South East Europe after a series of bombings struck Turkish resorts this week.

Rates for commercial property risks are expected to increase in line with increases faced by other high-risk territories as underwriters pull back on providing cover until further security information is made available.

Gary Hirst, director at Lloyd's broker Chesterfield Group, told Insurance Times: "Just after the Sharm el-Sheikh bomb attacks in Egypt prices went sky high with deductibles also rising.

"[As a result of the latest bombings] prices have shot through the roof in Turkey just as they did in Egypt and in Lebanon."

The recent attacks have led underwriters to ask for more detailed information on risks, with some even visiting the area.

But the recent bombings are not expected to affect current terrorism policy wordings.

Any possible extensions are likely to be included within existing commercial property programmes, Hirst added.