Terrorism & Political Violence Insurance

Mitigating risks against acts of terrorism and political violence

On both international and domestic fronts, terrorism and political violence present continuously changing and perilous scenarios. This creates an urgent need for companies to protect their people, property, and profits against unprecedented attacks, violence, and unforeseen events. Our underwriters work to understand and address challenges that businesses of all types and sizes face, providing thorough risk insurance solutions for the impacts of terrorism and political violence.

Risk classes that would be ineligible for consideration:

• Nuclear, chemical, biological and radiological (NCBR) risks
• Embassies and consulates
• Military bases/housing
  

Capacity 

Up to US $450,000,000 any one risk 

Territories 

Worldwide 

Coverage details 

• Property damage to insured assets 
• Business interruption, including extra expense/loss of profit, delay in startup for construction risks 
• Contingent time element (denial of access, loss of attraction, customers and suppliers, and others on request) 
• Construction/builder’s risk terrorism (up to 72-month period) 
• Third-party terrorism liability 
• Cyber terrorism 
• Malicious attack/active assailant 
• Event cancellation following an act of terrorism or threat thereof 
• Terrorism/PV reinsurance 

Perils 

• Terrorism, sabotage 
• Strikes, riots, civil commotion 
• Malicious damage 
• Insurrection, revolution, rebellion 
• Mutiny, coup d’état 
• War, civil war 
• Counterinsurgency

Terrorist attack on commercial property:

In this claim scenario, a terrorist group attacks a commercial district and targets several office buildings. One of the buildings, sustains damage due to an explosion, resulting in structural damage and destruction of interior assets. The building is uninhabitable after the terrorist attack, and the commercial tenants  are forced to relocate—causing loss of rental income for the property owner. The property owner’s Terrorism and Political Violence Insurance coverage compensates them for the property damage, loss of rental income, and additional expenses incurred for rebuilding and security enhancements.

Active assailant incident at a workplace:

In this claims scenario, an armed individual enters a corporate office building and opens fire on employees, resulting in multiple casualties and injuries, as well as a temporary shutdown of operations as law enforcement responds to the situation. The company had Active Assailant Coverage as part of their Terrorism and Political Violence Insurance policy. This coverage provided financial assistance for medical expenses, counseling services for affected employees, and reimbursement for business interruption losses incurred during the shutdown period.