Terrorism and Loss of Income

 

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Reasons to consider Terrorism and Loss of Income insurance from AIG

Growing awareness

Growing reports of violent attacks in particular regions has aroused concerns in the wider world to this threat. While in general Irish companies have not been considered direct targets, businesses should consider the risk to their operations from collateral damage from an event.

Risk mitigation

With no control over the timing, severity and location of such events, a risk mitigation strategy of safeguarding against the risk by taking out appropriate insurance on the property and lost income as a result, could mean the difference between minimising losses and irreparable damage to the organisation.

Who is it for?

We offer market-leading terrorism insurance solutions to protect businesses from devastating losses to physical assets resulting from acts of terrorism. Coverage can be customized to meet distinct client needs.

What is covered?

  • Physical damage to commercial buildings and their contents resulting from terrorism carried out by an individual or group

Terrorism contracts usually define terrorism as an act or series of acts, including the use of force or violence, of any person or group(s) of persons, whether acting alone or on behalf of, or in connection with any organization(s) committed for political, religious or ideological purposes, including the intention to influence any government and/or to put the public in fear for such purposes

  • Associated business interruption expenses, including profit loss and increased operation costs

Losses associated with war and civil war, biological or chemical agents, or nuclear material will be excluded.