Terrorism

 

What is it?

Adding Terrorism cover to your insurance policy will protect you from any losses incurred as a result of a terrorist attack in the UK.

 

Definition of an Act of Terrorism (Reinsurance Act 1993)

“…acts of persons acting on behalf of, or in connection with, any organisation which carries out activities directed towards the overthrowing or influencing, by force or violence, of Her Majesty’s government in the United Kingdom or any other government de jure or de facto.”

 

Who needs Terrorism cover?

Terrorism cover is excluded from a standard building or contents policy and needs to be requested separately. Any property can potentially be impacted by terrorism, whether as a direct target of terrorist action or as a result of being in the area affected by a terrorist act. There is a level of cover under your Employers’ Liability policy but you need to consider adding a separate Terrorism policy to cover you against material damage.

 

What does it cover?

Terrorism cover provides financial protection for losses incurred for damage to property as the result of a terrorism. Cover can be extended to include the cost of business interruption as a consequence of a terrorist act.

 

What having Terrorism cover means to you

Although highly unlikely, the impact of a terrorist act can be devastating for any business. Terrorism cover helps protect business against the potentially huge losses that may result from an attack.