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Ensurance UK Ltd. has launched terrorism and sabotage insurance in the U.S. market, the specialist managing general agent said in a statement Monday.
The coverage offers terrorism and sabotage insurance for businesses and a range of policy extensions, the statement said.
Extensions are all nondamage business interruption extensions, such as denial of access, ingress and egress by a civil or military authority and loss of attraction and threat, according to an email from Becky Steel, who has joined Ensurance from Omnyy LLP, where she was head of global property and terrorism. Dan Moorcraft, formerly a terrorism underwriter at Omnyy also joined Ensurance.
Ensurance also offers up to 10-year policies for builders risks and its definition for sabotage and terrorism is “much broader than the TRIPRA product and does not need to be declared as a Terrorist Act by the US Government. It includes acts by individuals,” Ms. Steel said.
Ensurance UK Ltd. launched in 2017 as a wholly owned subsidiary of Australian-based Ensurance Ltd., the statement said.
The demand for terrorism insurance coverage is expected to increase in India following the recent Paris terror attacks, The Hindu BusinessLine reported.