Terrorism insurance provides coverage against losses due to acts of terrorism, including damage to property, business interruptions, and injuries resulting from terrorist attacks.
- Example:
Business Interruption: If a business property is damaged due to a terrorist attack (e.g., an explosion or shooting), terrorism insurance can cover repair costs and losses due to business downtime. For example, if a mall is attacked, the business tenants may need financial support to cover the interruption in operations.- Property and Liability Coverage: Terrorism insurance can also cover property damage caused by explosions, vandalism, or other acts of terror. Additionally, businesses might be covered for third-party liability if customers are injured on their premises during an attack.
Terrorism Insurance