Terrorism Insurance

Following changes which came into effect on 1 January 2003, terrorism became a total exclusion from most standard commercial property policies.

However, it is possible to 'buy back' terrorism cover on an 'all risks' basis (previously terrorism insurance, whether added to a standard policy or bought as a stand-alone policy, was just on a fire and explosion basis). However, due to slight differences in definitions between the wording of the terrorism exclusion on the standard policy and that on the 'buy back' policy, it is possible for there to be a 'gap' in the cover. As a result, some insurers now offer terrorism 'gap' or 'wrap' policies to cover this gap.


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