The recent Mumbai terror attacks have put the spotlight on terrorism and the need for insurance against such acts. Many companies are unaware of the level of terror risk faced by them. And, even after buying terror covers for their properties and possible business disruptions, companies do not clearly know how the personal and property claims from a terror attack could impact their balance sheets.
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Terrorism insurance is mostly offered as a rider or add-on cover to the main policies by domestic insurers. Internationally, it is available even as a standalone policy.
Text: Business Line
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