The global economic impact of terrorism reached $89.6 billion two years ago. Acts of terror are unfortunate, devastating perils for which businesses can rarely plan, making proper protection a must. Your clients can mitigate their loss should they encounter property damage or business interruption as a result of an act of terror. A Stand-Alone Terrorism policy can efficiently render payments that can aid them in resuming to a more normal state of business.
Many businesses believe they are adequately protected through Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA), which lends public and private compensation for certain insured losses resulting from a certified act of terrorism. However, TRIPRA requires that losses related to an act of terrorism reach a minimum of $5 million in order to meet its certification threshold to trigger coverage, often leaving clients without the complete financial protection they require.
A Stand-Alone Terrorism policy is one of the most efficient and holistic coverages to protect your clients from the monetary impacts of business interruption and property damage.
Coverage Details and Features
- Coverage is available for physical damage to fixed and mobile assets caused by war, terrorist acts, malicious damage, strikes, riots and civil commotions
- Business interruption following property damage to the insured assets by on of the above perils can also be included
- Acts of Terrorism
- Riots, Strikes and/or Civil Commotion
- Malicious Damage
- Insurrection, Revolution or Rebellion
- Mutiny and/or Coup d’Etat
- War and/or Civil War
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.