Political Violence and Terrorism has been designed to respond to the change in clients’ needs as demand for cover is increasing and geopolitical risk remains unclear.
Aimed at multinational businesses operating in Continental Europe, the Middle East and Africa and Asia Pacific, Political Violence and Terrorism Plus offers integrated, comprehensive, market-leading multinational cover through Chubb’s extensive global network for the full spectrum of terrorism and political violence perils.
Integrated, comprehensive, market-leading multinational cover for the full spectrum of terrorism and political violence perils.
Bomb hoax threat – such threat is a real concern for clients and Chubb is one of the first insurers to include it in its coverage.
Transit cover – cover for goods in transit traditionally excluded from this type of policy.
Looting and pillaging directly following an insured peril – this is excluded in most wordings but is a very important extension in many parts of the world and especially for clients in the retail sector.
Time element select – insured benefits from variable and integrated Business Interruption (BI) cover, offering them flexibility as to how they choose their BI cover to respond once the loss has occurred.
Contingent business interruption extensions – including denial of access, public utilities and customers and suppliers extensions. All these are usually excluded from a regular BI extension, but available under the Chubb Political Violence and Terrorism Plus policy.
Capital additions and new acquisitions – a useful extension for clients that are expanding, ensuring they have cover in place for new locations within existing territories.
Other insurance clause – by stating clearly that this policy will be primary in the event of other policies being in place, this clause removes issues around contribution and delays in claims payments when questions arise over which policy must respond first.
Group interdependency – traditionally excluded from this type of policy. This will provide coverage to both the main premise that suffers a loss as well as those dependent premises affected by the loss.
Loss of control clause – provides greater clarity in the event of government authorities causing significant property damage in an attempt to mitigate a terrorism attack.
Our global terrorism cover can be tailored to suit many industry sectors. The following are typical examples:
Retailers, department stores
Tour operators, amusement parks, events
Banks and financial institutions
Real estate companies
International brand name companies
Onshore energy and power risks
Project finance and construction
Bridges, tunnels and infrastructure such as airports, ports and railways