5 September 2017Is your business prepared for a terrorist attack?
Any organisation no matter what size, location or sector could potentially be impacted by a terrorist threat or attack. The rise of individuals orchestrating terror attacks has dramatically changed the threat landscape, making it tougher than ever for organisations and individuals to be proactive and put protective measures in place. This unstable geopolitical environment has increased the demand for risk management and insurance solutions which are capable of responding to a major terrorist incident.
Recent research from the Arthur J. Gallagher Crisis Management team revealed that despite 8% of large companies having experienced a terrorism incident in the past two years, 24% are unsure about their resilience against security crises. The report, entitled ‘Building a culture of resilience: new approaches in a changing threat environment’ also showed that 22% of these companies anticipated a terrorist incident in the next 12 to 18 months, which is why now is the time to assess your insurance options1 .
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The terrorism landscape is changing as remote bombings are increasingly replaced with attacks orchestrated by lone-shooters or cars targeting pedestrians. Attacks can happen anywhere at any time and the damage they can cause extends from financial loss to reputational damage and in the worst case scenario, injury or loss of life.
Now is the time to run a thorough check of your insurance coverage, making sure that in the event of a terrorist attack your organisation is protected against financial loss. Acts of terrorism are rarely included in your standard business insurance, even if you have business interruption cover. In response to this need, we offer two different terrorism insurance policies, each with different advantages. Arthur J. Gallagher representative can help you decide which one is most of suitable for your needs.
Download the Is your business prepared for terrorism bulletin.pdf