Civil unrest has caused more than $10bn of insurance and reinsurance losses across the globe since 2015 compared with less than $1bn from terrorist attacks, spooking underwriters and fuelling a surge in the cost of cover.

The figures are included in a report from insurance broker Howden that explores how “rising discontent”, driven by the increasing cost of living and other social pressures and stoked by social media, has driven up the frequency and size of claims on strikes, riots and civil commotion insurance. This typically covers property owners against damage in such episodes.

“We have gone from a relatively loss-free market over the past 20 years to a market that is suffering serious losses,” Tom Bradbrook, executive director at Howden’s speciality insurance business, told the Financial Times.