A new terrorism insurance product has been introduced by Arch Insurance (UK) Limited for small and medium-sized companies in the UK.
“Recent incidents have shown how quickly the terrorism threat level can escalate and how difficult it can be to predict where and when businesses will be impacted,” said Stuart Danskin, underwriting director for Arch UK’s regional division.
“This has exposed shortfalls, with insureds often facing coverage gaps at the times when they need it most. Through our new product, we can provide our customers with relevant coverage that is flexible and adaptable to their specific requirements.”
Available either as a standalone policy or an integrated component, the product provides what Arch described as an “expansive” range of coverage as standard. This spans prevention of access (damage and non-damage), loss of attraction, specified and unspecified customers and suppliers, and full failure of utilities.
The new offering, which also covers brand rehabilitation costs, features enhanced customisation and allows tailored coverage for policyholders.
