Chubb has launched non damage terrorism coverage, aimed at bridging gaps in traditional terrorism business interruption policies.
Conventional terrorism policies typically provide cover for physical damage and resulting business interruption. Chubb's non damage terrorism solutions were developed in response to client feedback, providing cover for businesses which incur losses due to a terrorist incident in the absence of physical damage.
The cover also provides employee and customer care assistance as a result of a terrorism loss. It includes event cancellation coverage following an act or threat of terrorism, and an extension for war.
Policies are available to businesses of all sizes and in most locations around the world. It is particularly aimed at retailers, hotels, financial institutions, entertainment and events sector, transport and infrastructure.
Piers Gregory, head of terrorism and political violence at Chubb, said: "Chubb's non damage terrorism solutions not only covers the insured's property but also the surrounding area which might prevent employee or customer access. The additional standalone capability for event cancellation following war and terrorism further strengthens the unique capabilities of our solutions."
Chubb, Terrorism, Piers Gregory, Business interruption