MGA Inperio updates terrorism product amid Borough Market attack 'wake up call'

MGA Inperio has responded to the ‘changing face of terrorism’ following the Borough Market terrorist attacks by upgrading its product to include denial of access.

The policy change will be a big boost for brokers looking for a terrorism policy that will give its clients piece of mind.

It means clients will get denial of access cover without the need for any physical damage to occur before a policy holder can make a claim.

Pool Re’s remit was criticised after businesses couldn’t claim on their business interruption cover following the Borough Market attacks when they were denied access by police zoning off their premises.

Pool Re was set up only to cover damage, but is adpating following lobbying from Biba. 

Inperio director Simon Lovat said the Borough Market attacks were a ’wake up call’ for terrorism insurance to be considered more carefully. 

Brokers had been alarmed by the attack because they though Pool Re was providing all the protection clients required. 

Lovat said: “The changing face of terrorism has meant the insurance industry has had to reconsider the type of cover it provides for its clients. It is no longer just about bombs going off, it is about how small fanatical groups with little or no formal training and equipment can inflict maximum damage and disruption without any damage to property occurring.”