Are you covered enough for Terrorism risks?
UK Terrorism threat level to remain SEVERE for at least the next five years
Metropolitan Police Deputy Assistant Commissioner Neil Basu, addressing the Police Superintendents’ Association annual conference, told attendees yesterday that he “did not think the threat level would change before his retirement in 2022” . Following the four terrorism attacks in three months in the UK this year, Mr Basu said “there had been an increase in the amount of investigative activity, which was continuing to put police forces under strain.”
For many businesses the threat of terrorism seems remote; however many people forget the potentially devastating effect being denied access to their premises could have following a terrorism event. This year’s attacks in London and Manchester have demonstrated that denial of access and business interruption losses can be substantial following a terrorism event; and the corresponding cover for this type of business interruption claim following a loss is not offered as standard by Pool Re, or by other commercial terrorism insurance providers.
With people returning from the summer break and the focus on strong end of the year performances, we urge you to take time to fully review the adequacy of your existing cover against the direct threat of terrorism activity and the potential losses that could arise indirectly following a terrorist event.