Why choose IOA for war & terrorism insurance?
Global instability has heightened the risks of terrorism, war, and politically motivated violence for businesses of all sizes. These extreme events can cause catastrophic property damage, interrupt operations, and result in significant financial losses.
While terrorism coverage was once included in standard commercial policies, it now must be purchased separately. War & terrorism insurance provides essential protection to help businesses recover from such events. With IOA’s guidance, you can secure policies that protect your assets and ensure operational resilience.
-
Comprehensive knowledge of extreme risks
-
IOA advisors understand the complexities of war and terrorism risks, from acts of politically motivated violence to the unique exposures faced by different industries. We help you assess vulnerabilities and connect you with policies designed to mitigate financial and operational impacts.
-
Access to global coverage options
-
Our network of leading insurers allows IOA to provide robust and flexible solutions tailored to your specific risk profile. Whether you operate domestically or globally, we ensure your coverage aligns with regulatory requirements, such as the Terrorism Risk Insurance Act (TRIA), while addressing your unique needs.
-
Proactive claims support
-
When an event occurs, IOA supports you through the claims process, ensuring more timely resolutions and helping you recover quickly. Our team is dedicated to minimizing disruption and securing fair outcomes for your business.
Coverage features
War & terrorism insurance typically includes:
Property damage
Covers damage to buildings, equipment, and inventory caused by acts of terrorism.
Business interruption
Provides compensation for lost income and operating expenses if your business is forced to close temporarily.
Extra expenses
Covers costs incurred to minimize downtime or relocate operations.
Liability protection
Protects against third-party claims for injuries or property damage caused by terrorist acts.
Terrorism Risk Insurance Act (TRIA)
Under TRIA, commercial insurers must offer terrorism coverage as part of their property policies. Key highlights include:
- Coverage applies only to certified attacks declared by the U.S. Secretary of the Treasury.
- TRIA does not extend to all forms of politically motivated violence, such as acts of war.
- Businesses such as office buildings, shopping malls, and factories are particularly encouraged to consider this coverage.
What is not covered?
While terrorism insurance provides broad protection, certain exclusions apply:
- Acts of war are typically excluded due to their scale and unpredictability.
- Nuclear, biological, chemical, and radiological attacks may be excluded unless explicitly added through specialized coverage.
Connect with an IOA insurance expert
Speak to an IOA broker who understands your industry, goals, and challenges.
Get the latest on business insurance
Read our industry expert’s latest thoughts. We provide specific market outlooks, practical guides, updates on market trends, advice on risk management and much more. Each informative piece offers straightforward guidance in a complex insurance landscape.