Changes to Pool Re Terrorism Insurance
Zurich Insurance Company is a member of Pool Re and provides Terrorism cover, as defined under the scheme, to any customer or prospective customer who requests it as part of the relevant commercial policy they purchase from Zurich.
The cover available is the widest in the market, including cover for a chemical, biological, radioactive or nuclear incident arising from an Act of Terrorism, an important consideration in the uncertain times we are living through.
Pool Re has recently introduced a number of changes as part of its modernisation programme which are effective from 1 October 2015. These include some rating changes to Zones, amendments to the Cyber Exclusion, a 40% rating reduction for SMEs (defined as having Property exposures less than £2m) and rating reductions for certain features such as large deductibles, loss limits and joining the Crowded Places Initiative.
We have made all the necessary changes to our systems and provided full training to our Underwriters who will be pleased to discuss terrorism cover and the impact of these changes with you.