Terrorism and Political Violence

Beazley leads the market in creative insurance solutions for assets that are exposed to terrorist and politically motivated attacks. The current product portfolio responds to damage from risks such as terrorism, riots and strikes, war, and the use of nuclear, chemical or biological devices. We cover assets worldwide in multiple industry sectors ranging from commercial real estate to power plants, and from retail to mining.

• As lead underwriter under a standalone terrorism policy, Beazley settled a claim in Latin America resulting from the detonation of explosive devices at our insured’s mining facility by a terrorist group. We immediately instructed a local adjuster to visit the site, to assist the insured in their investigation of the loss and to assess the damage. We were able to find an effective solution for the insured with regard to the indemnification for damaged assets which had already been replaced. Further, we commissioned a security consultant after the loss to assess vulnerabilities at the mine and to provide recommendations to the insured in relation to prevention of future attacks.
• A terrorist incident at a busy airport results in physical harm to people and damage to property. Although not directly affected by the attack, a nearby hotel experiences significant reduction in income as customers are either prevented from staying or choose to cancel their holiday. In these circumstances our Loss of Attraction policy can replace lost income helping the hotel weather the downturn in trade until visitor numbers return to normal levels.