The Risk

This is not a market that has suddenly developed although certain high profile incidents such as 11th September 2001, Madrid Train Bombings in 2004, London Bombings in 2005 and the more recent the Terrorist attack in Mumbai in 2008 did raise it to new heights of awareness. Whether it is the Al Qaeda in USA, Basque separatists in Spain or the Separatists in India, there are terrorist issues in virtually every country.

The inherent problem has been that clients do not feel that a terrorism attack will happen to them and several clients therefore decided in the past not to purchase the limited cover that was previously available. This in most circumstances was purely property damage due to a terrorist attack.

This is now moving from a passive environment to a reactive one with many more clients approaching the markets for effective cover over and above basic Property covers

What is covered?

Howden India can now assist in providing terrorism cover related to the following:

	Property Damage
	Business Interruption
	Liability in respect of the Insured’s operations
	Employers Liability
	Public Liability
	Contingency Liability
	Limited "dirty bomb" clean up costs liability

Wider Definition

We can also arrange for a wider wording than normal to be available in respect of the "act of terrorism". This means an act, including the use of force or vio­lence, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s), committed for political, religious or ideological purposes including the intention to influence any government and/or to put the public in fear for such purposes i.e. it includes areas such as local political movements where force and violence are used.

Who needs the Cover?

Anyone with assets that are exposed to a potential terrorist incident, the result of which will damage the balance sheet e.g. property owners, financial institutions, large manufacturing operations or high profile organizations/infrastructure etc.

What is the premium?

With a cover such as Terrorism it is inevitable that the larger risks are underwritten independently with the main points to be considered in respect of the premium being

	Are the properties in the vicinity of the US, UK, Israeli or UN embassies or with known trade connections?
	What security measures are in place if any?
	What is the utilisation of the building?
	What is the turnover and exposure in respect of contingency?

For further information contact:

Ammit Mannari
Howden Insurance Brokers India Private Limited
Ground Floor, Bombay Dyeing Administrative Building
Pandurang Bhudkar Marg, Worli
Mumbai - 400 025, India.
Telephone: +91 22 6655 8888; +91 22 6655 8821
Telefax: +91 22 6654 8833
Email: amit.mannari@howdenindia.com