While no insurers affected by the Asian tsunami have knocked back claims arising from the disaster, reports from the UK suggest insurers may re-evaluate the way they price tsunami-related disasters.

There is confusion in the industry as to whether tsunamis are covered, specifically whether they are classified as earthquakes or floods. Policies also vary between insurers and the country they operate in. Reports from the UK suggest some insurers will re-write policies to exclude tsunamis.

But it’s unlikely any insurers will refuse any claims from the Boxing Day tsunami because of the emotional nature of the disaster and the public relations nightmare such a move would spur