“No one is going to attack us”. This is the first reaction of most people when terrorism insurance is discussed. The truth is, this cover is vital and should be considered on ALL commercial insurance policies.
Why bother with cover?
Firstly, if you have a mortgage secured against the property or your business, check the small print. In almost every case it will ask for full all risks including terrorism. If you do not take the terrorism peril, you could be in breach of your mortgage/loan agreement. In the event of a claim, this could be a disaster.
Secondly, terrorism cover comes into force in the event of an incident the authorities deem to be an act of terrorism. Insurers have to follow what the authorities say and if you do not have terrorism cover in place, your policy will not respond to a claim.
Finally, what is terrorism? most people think of 9/11 but it can come in many different forms. From animal rights to any act intended to cause death or serious bodily harm to civilians or non-combatants with the purpose of intimidating a population or compelling a government or an international organization to do or abstain from doing any act.
Do not take the risk – make sure you have cover in place! Call us today to discuss further.