Terrorism Insurance
Terrorism insurance provides financial protection for businesses, individuals, and property owners against losses caused by terrorist attacks. This type of policy helps pay for damages and costs associated with terrorism related incidents, which standard property policies may exclude.
Most policies will provide cover for:
- Damage to your property/business premises
- Pollution and/or Contamination Clean Up
- Property away from the premises
- Rent Receivable including Alternative Residential Accommodation Expenses
Typical Exclusions:
- Nuclear, biological, or chemical attacks, which may require separate, specialised cover.
- Smaller acts of vandalism, unrest, or politically motivated actions that don’t meet the policy’s definition of terrorism.
Examples of recent terrorist attacks in the UK
2017 Manchester Arena Attack
- Surrounding businesses and properties were significantly affected following this incident due to damage and prolonged police investigations.
- Nearby shops, restaurants, and hotels filed claims for business interruption due to closures, loss of customers, and security expenses.
- Pool Re and other insurers covered a portion of these claims, including property repairs and lost revenue due to business interruptions.
2017 London Bridge and Borough Market Attack
- Following significant disruption in the London Bridge & Borough Market area businesses, including restaurants and bars, faced closures and decreased foot traffic in the days following the attack.
- Many businesses claimed for business interruption due to the police cordon and the public’s reluctance to return to the area. Pool Re provided coverage for lost income and business disruptions.
Contact our friendly team today to find out more:
T: 01403 785775
E: info@omnidavis.co.uk
