The festive season highlights the growing need for terrorism-related insurance

The festive season is a time when people and communities unite and gather, celebrating Christmas with markets, light switch-on events, nativity plays, concerts, outdoor ice-skating and much, much more. Sadly, popular community events that draw in large numbers of people are targets for cowardly acts of terrorism, forcing organisers to be diligent and prepared for such atrocious crime.

In 2017, a year in which Britain was subjected to a series of devastating terrorist attacks and people arrested for terrorism-related crime increased by almost 60% to record levels, reports emerged of extremists calling upon militants to carry out terrorism atrocities at Christmas markets in the UK, France and Germany.

In Germany six suspects were detained on suspicion of planning a Christmas market attack.

With threats of terrorism rising in the UK, following the 7 July 2005 London bombings, the Terrorism Act 2006 was introduced. The Act created additional offences related to terrorism and was considered by the government to be a necessary response to an unparalleled terrorist threat.

This deplorable climate of terror has forced the advent of cover that specifically covers acts of terrorism to cater for the increasing need for comprehensive terrorism insurance.

As we noted in our article ‘Terrorism Insurance and the Unseen Gap in Cover’, standard insurance policies do not automatically or typically include terrorism cover.

In response to this grave sign of the times that’s creating a growing need for terrorism-related cover, Nelson Policies at Lloyd’s has developed a Terrorism Product designed to stamp out the ambiguities involved in covering the damage and devastation caused by these heinous acts of crime.

Our comprehensive Terrorism Product covers both residential or commercial policyholders for any damage caused to their building, or business interruption caused by a terror attack.

Nelson Policies at Lloyd’s Terrorism Product includes the following:

  • Non-property damage business interruption cover, including denial of access
  • Suppliers extensions
  • Threat cover

Other benefits of the product include:

  • Optional chemical, biological, radioactive & nuclear cover
  • No restriction on location
  • Lower premiums than “Pool Re” with more generous commissions
  • Account transfers and price matching considered

Our unique, comprehensive and flexible standalone Terrorism Product can be added as an optional cover with other Nelson Policies at Lloyd’s products.

For more information on our Terrorism Product, get in touch with Nelson Policies at Lloyd’s friendly team of experienced underwriters. Call us today on 01622 681246.

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