We define a terrorist act as an act that is assumed to have been carried out by political, religious, ideological or similar purposes with the intention to cause extensive damage to or general fear among companies or organizations.
Growing reports of violent attacks in particular regions has aroused concerns in the wider world to this threat. While in general Swedish companies have not been considered direct targets, businesses should consider the risk to their operations from collateral damage from an event.
With no control over the timing, severity and location of such events, a risk mitigation strategy of safeguarding against the risk by taking out appropriate insurance on the property and lost income as a result, could mean the difference between minimising losses and irreparable damage to the organisation.
Our insurance against Acts of Terrorism was specifically designed to cover the following risks:
Sectors that might consider they have a higher exposure to this type of event include: