POLITICAL VIOLENCE, TERRORISM & SABOTAGE INSURANCE
Human casualties, property damage, business interruption, relocation costs, long-term damage to reputation and loss of public confidence.Human casualties, property damage, business interruption, relocation costs, long-term damage to reputation and loss of public confidence.
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WHY PVTS INSURANCE?
Social unrest is becoming a global phenomenon, and no part of the world is immune from civil unrest. Global extremists aim for sensational destruction and loss of life and give no warnings. Domestic groups in many countries are becoming more sophisticated. And you do not have to be the intended target – even an attack near your facilities could result in human casualties, property damage, business interruption, relocation costs, long-term damage to reputation and loss of public confidence.
Acts of terrorism and political violence are incredibly difficult to predict. The effects of these attacks are massive and can cause property damage, loss of income, bodily injury and death, denial of access, loss of attraction, loss of reputation, loss of key personnel and more.
Political Violence, Terrorism and Sabotage Insurance offers financial security against the threat of property loss, damage and business interruption following an act of terrorism or politically motivated violence, including acts of war and sovereign conflict.
Political Violence, Terrorism and Sabotage Insurance is specifically designed to provide protection against political, religious and ideological acts and includes cover for sabotage, damage to premises, business interruption, prevention or restriction of access to premises and utilities, as well as loss of income, including rental income.
The key features of the policy include cover against damage to premises as well as loss of income and extra expenses due to business interruption, ideological acts of political, religious motivation are covered and No ‘non-selection’ rule – ability to insure single or multiple locations under one policy.
WHAT YOU NEED TO KNOW
What is Political Violence, Terrorism and Sabotage Insurance
Political Violence insurance is property and auto coverage which protects you and your business from damage caused by politically-motivated events such as terrorism, strikes, sabotage, civil unrest, insurrection, coup d’état, revolution, rebellion, mutiny, and civil war.
Who is this cover meant for?
Because property policies usually exclude risk related to political violence, Political Violence Insurance should be considered by any organization that operates in or have property in high-risk areas to protect their assets. Industries that are mostly targeted include oil and gas, NGOs, retail, construction, financial, media, international schools, manufacturing, mining operations and multinational companies operating in high-risk areas.
What is not covered by Political Violence, Terrorism and Sabotage Insurance?
Exclusions vary with each policy, but generally speaking, Political Violence, Terrorism and Sabotage Insurance only covers events related to war, civil unrest, and terrorism. Perils such as floods and electrical fires would not be covered, nor would events related to chemical, biological, radiological, nuclear, and electromagnetic weapons. Also, Political Violence, Terrorism and Sabotage Insurance only covers physical damage. It does not cover political risk, such as property that is confiscated due to political action.
Is Political Violence, Terrorism and Sabotage Insurance same as Political Risk Insurance?
No, Political Risk covers financial loss due to political events, such as an entity confiscating a building or other piece of property. Political Violence, Terrorism and Sabotage Insurance covers physical damage to property resulting from war, civil unrest, and terrorism.
Does Political Violence, Terrorism and Sabotage Insurance cover Acts of War?
Yes, Political Violence, Terrorism and Sabotage Insurance is designed to protect organizations’ property against acts of war including terrorism, strikes, sabotage, civil unrest/war, insurrection, coup d’état, revolution, rebellion, and mutiny.
How Do I Claim under the policy?
You’re in the hands of an expert so you can always be assured of professionalism, quick turnaround times and world-class technical knowledge. We’ll keep you in the loop every step of the way. Simply send us an email detailing the circumstances of the claim and our team will be at hand to assist you navigate the process.
Are there any excluded industries?
This policy is specifically designed to cover the sabotage, terrorism, mutiny, rebellion, insurrection and terrorism risks faced by organizations operating in countries where these risks are normally excluded from standard insurance programmes. Should your business fit this description you would more than likely be considered. We do however require a fully completed proposal form, with a list of all locations including every relevant street address, together with a split of Material Damage and Business Interruption figures, preferably in an excel spread sheet format