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London Market insurers team up to address terrorism risks
Written by staff reporter
An insurer panel including Hiscox, Beazley, Lockton, Talbot and XL Catlin, has launched new modular cover to address terrorism risks. Terrorism Crisis Solutions (TCS) allows insureds to choose from a range of covers, including sabotage and terrorism for both property damage and liability; financial protection when impacted by an insured event; threat of a malicious act, nuclear, chemical, biological, and radiological malicious acts; active assailant, active shooter, workplace violence and stalking threat as well as riots, strikes and civil commotion.
Head of North American Property & Terrorism at Lockton, Adam Watson, a said terrorism risk is fast changing in nature. "We have seen recent attacks across Belgium and France as well as in the US, which have brought home how terrorists are adapting their methods to inflict maximum casualties, fear and disruption.
“Recognising the uncertainties and vulnerabilities that this brings to businesses around the world, we have brought together a panel of the London Market’s foremost terrorism insurers to develop a new comprehensive modular terrorism product. Terrorism Crisis Solutions enables clients to build a terrorism policy that can be customised to meet their precise needs.”