The Importance of Terrorism Insurance In 2019

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Terrorism is becoming a global concern as these extremist groups can strike at any time or in any place in the world. The damage and disruption that an attack can cause may affect your business if their activity happened to unfold near your premises. It doesn’t matter how big or small your business is it could still be disturbed even if it is unintentional. You can see the Terrorism Act here.

The Pool Re Scheme was established in 1993 after there was market failure caused by the bombing of the Baltic exchange. Most insurers that provide commercial property have subscribed to the scheme and therefore will agree to offer terrorism cover. However, the scheme is only effective if the attacks have come from an organisation looking to overthrow or influence the government body though violence. For this very reason the scheme did very little or nothing to help businesses with the recent independent attacks.


Why you need our Bespoke Terrorism Insurance

Terrorism insurance is imperative for commercial property and will cover you regardless if the act was committed by an extremist organisation or an independent terrorist. Business owners should seriously consider this type of insurance as it can make such an unpleasant experience more manageable and less stressful.

In 2017 we saw the attack on London bridge and the devastation that was felt by businesses trading in Borough Market. A restaurant there received a bill of £50,000 as their insurance refused to pay out for business interruption due to the terrorist attack.

This is because these types of terrorist attacks are not deemed as eligible for pay out as it isn’t connected to an organisation trying to attack the government. If you decide to put your insurance requirements in our hands, if an incident like this reoccurs, you would be covered.

These past years have shown us that these threats and violence have been becoming more of a common occurrence and it is unclear where or when it could take place again.

If you are concerned about your business, find out how Bespoke Insurance can help safe guard you in these uncertain times and reduce the how much your organisation is affected.

If you would like to discuss your Terrorism insurance requirements, then fill out our form here for a call back, phone us on or drop us an email at

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