The tragic events in Manchester and London in the last few weeks have felt pretty close to home for most of us – whether we know someone caught up in it all, are regular visitors to the areas affected or have been directly impacted ourselves.
What was once considered a ‘never going to happen’ occurrence is unhappily becoming more widespread and the effects can be devastating for businesses.
Most commercial property insurance policies don’t cover acts of terrorism as standard, which means without this valuable extension property owners can face substantial expenses should the worst happen. Costs can arise not just in repairing physical damage to the property but loss of rent or alternative accommodation costs following damage or denial of access.
Terrorism insurance can also cover you for business interruption costs and may be relevant to you even if you don’t own the property in which your business operates.
Whilst the last thing that anyone wants to be thinking about when something like this occurs is money, or worse still, insurance, those businesses affected have no choice but to think about it – they have suppliers, employees and customers to consider.
For more information on Terrorism Insurance and how it might affect you and your business please contact the Anthony James Insurance team on 01509 247000
For more information, please visit the Anthony James site here.