The 21st century is undoubtedly the century in which Terrorism has gone global.

Terrorism has become a global enterprise. Via land, sea, air, and cyber space, the war on global terror will be with us for generations to come.

The internet, globalization, and the vast and growing gap between the world’s haves and have nots, means Political Violence is alarmingly on the rise.

For a long time risk managers have viewed Political Violence cover as a luxury, an insurance to be bought with the onset of war or a major political or terrorist incident. Truth be told, most risk managers opt to buy cover, the majority times, too late either after they have been hit or when premiums have gone through the roof.

The terrorism insurance market is governed by capacity which in turn is regulated by the aggregate available for certain territories, the cost of reinsurance, current events in certain territories, and losses sustained. The cheapest time to purchase insurance cover is during stable times when premiums are low, coverage is wide, and capacity is available.

War and terrorism capacity is also very volatile with temporary market stoppages not uncommon in the Lloyd’s and international insurance market.

As seen with the recent political turmoil in Lebanon, Iran, Egypt, Pakistan, and other parts of the greater Middle East, a corporate entity must stay protected, so now is the time to protect your business

There are several types of coverage’s available in the current market environment ranging from the most basic form of Sabotage and Terrorism cover only, to full Political Violence cover which affords cover not only against terrorism, but War and Civil War, Strikes, Riots, Civil Commotion, Malicious Damage, Revolution, Rebellion, Insurrection and Coup d’Etat.

 

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