Insuring the unpredictable
It’s hard to name a risk as unpredictable as terrorism and political violence. Market volatility, constantly evolving risks, and the devastating consequences of inadequate cover demand a broker who is on top of their game.
Terrorism and political violence aren’t risks that can be transferred but some of the commercial consequences can. The effects of these attacks can cause property damage, loss of income, bodily injury and death, loss of attraction, loss of reputation, loss of key personnel… the list goes on.
Terrorism and political violence are often excluded from many types of insurance, so a specific terrorism policy can fill the gap in your portfolio and keep you fully protected. Use an experienced broker to get you the right cover that’s ready to stand strong when you need it most.
What’s included in your policy?
Our team has developed terrorism and political violence facilities to provide the most cost-effective programme, whilst offering the full range of coverage available. We are a leading specialist in the design and delivery of innovative, tailor-made facilities that meet the specific needs of our clients.
- Terrorism and Political Violence perils coverage (including War), including Business Interruption extensions
- Extensions such as Looting, Denial of access, Loss of Attraction, Transit cover
- Construction projects, for the full construction/erection period
- Third-party terrorism liability cover
- Energy specific liability and control of well extra expenses coverage arising from terrorism and political violence
- Nuclear, Chemical, Biological and Radioactive terrorism coverages
- Cyber extension ‘property damage fire following’
- Event cancellation cover
- Active Assailant cover
- Threat cover
Sometimes, a terrorist incident might cause business interruption without any property getting damaged, for example if there’s an attack on the people in a building but not the building itself. With subsequent investigations into the event, a business might still lose revenue in the weeks or months following the terrorist attack despite their buildings remaining intact – so it’s important to check whether your policy includes non-damage terrorism coverage too.
Why choose Howden?
There’s no one-size-fits-all approach to business. At Howden, we understand the unique needs of every size of company, from corporations operating on a global scale to small businesses in busy urban centres, across multiple sectors.
Our longstanding expertise in the insurance sector means we’re perfectly placed to understand the risks you might face from acts of terrorism and to offer comprehensive insurance that suits your business needs.
We work closely with leading insurers to cater for the different demands of our customers. Our in-house claims service can provide reassuringly quick responses if you need to claim, and we also offer personal support and specialist advice from insurance experts – helping to ensure your terrorism cover is right for you.
There are several factors to consider when weighing up your need for terrorism insurance. Firstly, where is your business located? Commercial centres in busy cities like shopping malls, and travel hubs such as airports and train stations are generally at higher risk of a terrorist attack. If your business is located in a high-traffic and popular area, then terrorism insurance could be beneficial to you.
There are some industries that may be considered higher risk too, for example the energy sector. Your best option is to talk to us if you’re unsure whether you need a policy, and we will help advise you.
This type of insurance is designed to protect you and your business, including any people who may work for you. It supplies the funds to repair your business or to keep you running during a period of interruption, and it can prove invaluable in case you or one of your employees is injured as a result of the attack.
As a rule, most commercial insurance policies either limit or exclude cover for acts of terrorism, so taking out a terrorism insurance policy is beneficial if your business or property is at a higher risk. Just talk to our team to find out more.