Sabotage and Terrorism Insurance Coverage
What is Sabotage and Terrorism Insurance?
Sabotage and terrorism insurance coverage are designed to protect you against financial losses directly resulting from politically motivated violence or terrorism and sabotage events. The potential destruction of life and property brought about by acts of terrorism or sabotage is significant, in recent times the number of terrorist incidents has risen. It's estimated the businesses and organisations suffer more than 10,000 terrorist attacks, with nearly 75 percent of those resulting in at least one death, injury or kidnapping. Resulting in a growing need for insurance to maintain business continuity.
Does my business need Sabotage and Terrorism Insurance?
Terrorism is by no means a new phenomenon. The first act of air terror was carried out way back in 1933, guerrilla groups have been attacking oil and gas fields since the 1950's. What has changed, however, is the scale and frequency of attacks and the associated destruction to businesses and our modern way of life. Their goals are to weaken foreign powers and undermine the stability of the regimes they are fighting. The new disturbing trend of recent years sees more and more attracts focused on European cities.