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Terror attacks - are you insured?

Broker advises 'at risk' property owners and businesses to review their terrorism cover

Terrorism attacks could leave property and business owners footing a huge bill they cannot afford to pay, according to Lancashire-based high street insurance broker, BP Insurance Brokers.

The expert insurance broker says many private and commercial property owners, as well as business owners, may only discover a weakness in their insurance policy too late in the day, after an incident has already taken place.

Standard property insurance policies have limited or no cover for loss or damage that occurs as part of a terror attack. At the same time, many business interruption policies would not pay out if a business had to close for some time for renovation and repairs due to terrorism and may not provide any payments for loss of business incurred following such an attack.

BP Insurance Brokers is now trying to raise awareness of the fact that in many cases specific terrorism cover needs to be bought as an addition to an insurance policy. The broker also says that many customers are asking the wrong questions with regard to their terrorism cover. The question should not be “have I got terrorism cover?” but “what am I covered for, in regard to a terrorist attack?” All businesses should consider asking this question, regardless of their geographic location.

Due to the heinous nature of these crimes, it is extremely difficult to determine who or what is vulnerable. However, businesses in the hospitality and tourism sectors – from restaurants to hotels and visitor attractions – and those operating in the shadow of a key landmark, or close to a transport hub, religious or government building, are likely to be the most at risk.

BP Insurance Brokers’ managing director, Barry Pimlott, says: “If an insured individual or business falls into any of the categories that could be identified as being ‘vulnerable’, they should seek advice on the terms of the insurance they already have and question whether it is sufficient for their needs. Our team is happy to help with this process and offer advice on any additional cover that should be considered.

“The nature of terror attacks now is very random and, unfortunately, more prevalent. People should ask themselves whether their property or business could possibly be a target or whether anything around them could be at risk. If the answer is ‘yes’, they should consider protecting against potential losses that could seriously impact either them or their business.”

BP Insurance Brokers has four branches ready to assist with terrorism cover enquiries, in Blackpool, St Annes, Cleveleys and Lancaster. Those wishing to get in touch by phone should call 0800 074 9996.



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Blackpool Office:

BP Insurance Blackpool Telephone Number

01253 393106

BP Insurance Blackpool Email Address

enquiry@bpib.co.uk

Cleveleys Office:

BP Insurance Cleveleys Telephone Number

01253 863636

BP Insurance Cleveleys Email Address

cleveleys@bpib.co.uk

Lancaster Office:

BP Insurance Lancaster Telephone Number

01524 63740

BP Insurance Lancaster Email Address

lancaster@bpib.co.uk

St Annes Office:

BP Insurance St Annes Telephone Number

01253 781007

BP Insurance St Annes Email Address

stannes@bpib.co.uk

Commercial Office:

BP Insurance Commercial Office Telephone Number

01253 393076

BP Insurance Commercial Office Email Address

commercial@bpib.co.uk


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