Where can you purchase terrorism insurance?

Most commercial insurance companies offer coverage for terrorist related activities. This specialist insurance protects an entity or individual against liabilities and losses that arise from terrorist related activities. Items normally included in a policy are properties, assets, and personnel.

Terrorism insurance is a relatively young product in the insurance industry. The attacks of 9th September 2001 resulted in billions of dollars in losses. Because of this, insurance companies virtually stopped covering risks related to terrorism in their general business insurance packages until the government passed the Terrorism Risk Insurance Act.

Global insurance companies also offer war and terrorism insurance to those who work outside the country and are highly at risk. This type of insurance covers professionals and/or contractors working in highly risky and hostile locations like Afghanistan and Iraq.

Although terrorism insurance can be a difficult product for insurance providers to calculate in terms of risk, more and more companies and entities purchase this type of insurance every year.