Insurance cover for damage from terrorist attacks decreases

Wed, 15 Apr 2009

The number of incidents of terrorist attacks in the world has increased, yet finding insurance against the effects of terrorism is becoming increasingly difficult.

According to insurance news site NoClaimsDiscount.co.uk the ability for people to be covered, and specifically those in the UK, is very rare. After examining the terms and conditions of home insurance policies offered by 16 leading companies, the website did not find any that provided cover for terrorism. Also, many insurance companies pointed out in their literature that they would not pay out for any terrorist related claims .

NoClaimsDiscount.co.uk indicated that part of the reason that insurance companies are unwilling to provide cover for terrorism is because their policies are based on risk and financial models. Even though the number of people in the UK who will make a claim as a result of a terrorist attack is small, insurance is not mathematically capable of estimating total terrorist costs for any given year, or even decade.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

Health cover, life insurance and PMIProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.

UK Home Insurance QuotesHome Insurance

Get the best home insurance deal and learn how to minimise the risk of household burglary.

Car Insurance - Compare Quotes from top UK CompaniesCar Insurances

Find the cheapest Car Insurance quote in the UK and get tips to help reduce your premiums.