Park Owners Insurance

Terrorism

Terrorist attacks have continued globally since the attacks on the World Trade Center and the Pentagon, and the government regularly warns of further terrorist actions in the UK and elsewhere. Our terrorism coverage provides otherwise unavailable insurance for acts of terrorism. Parks need to consider terrorism coverage and take account of the true cost of potential liabilities, not just the physical losses that a company could suffer from an attack.

The liability risks for companies including holiday parks, in the event that a terrorist strikes, are wide ranging. A series of simple errors in security, such as failing to control or monitor the entry of people into the building and failing to check passes or search bags, to simply not having a procedure for police emergency liaison, could put a company in the frame for major exposure in relation both to its own employees and other people. Our products can cover third party bodily injury, property damage, pollution clean-up and defence costs as a direct result of an act of terrorism.

Parks and many other companies are increasingly alert to the dangers of terrorism and its potential impact on their businesses. Also since terrorists have in particular focused their attacks on leisure sites, parks need to be protected from such increasing threats. The percentage of companies taking out terrorism insurance has increased dramatically since September 11th, with nearly twice as many companies buying terrorism insurance coverage today than they did in 2001.

In the UK, companies do have some terrorism employers liability cover, as the law requires insurers to provide a minimum cover of £5 million within any standard employers liability policy. But without additional cover, the reality for thousands of British companies and park owners is that they may be massively underinsured for the scale of liabilities they could face in the event of a terrorist incident.

Contact an Account Executive to find out more

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