Stephen
3rd April 2006, 02:08 PM
Travel insurance policy covers terrorist attacks for first time
Travel insurance that covers holidaymakers against terrorist risks is on sale in Britain for the first time. Costs arising from terrorist incidents are usually excluded from holiday insurance packages but a new policy designed by WorldAssure breaks the mould.
Among other things, the product will cover the cost of repatriating victims’ bodies.
Development of the product, which is underwritten at Lloyd’s of London, follows concerns over the perceived inadequacy of the Chancellor’s £1 million charitable fund, unveiled in last month’s Budget, for British victims of terrorist attacks abroad.
The only exclusion in the WorldAssure policy is for “nuclear, chemical and biological terrorism”. The company says that situation is uninsurable.
Promoters of the policy say that, in addition to the terror cover, the product breaks ground by providing insurance against pre-existing medical complaints.
Travel insurance that covers holidaymakers against terrorist risks is on sale in Britain for the first time. Costs arising from terrorist incidents are usually excluded from holiday insurance packages but a new policy designed by WorldAssure breaks the mould.
Among other things, the product will cover the cost of repatriating victims’ bodies.
Development of the product, which is underwritten at Lloyd’s of London, follows concerns over the perceived inadequacy of the Chancellor’s £1 million charitable fund, unveiled in last month’s Budget, for British victims of terrorist attacks abroad.
The only exclusion in the WorldAssure policy is for “nuclear, chemical and biological terrorism”. The company says that situation is uninsurable.
Promoters of the policy say that, in addition to the terror cover, the product breaks ground by providing insurance against pre-existing medical complaints.