“The changing nature of terrorism and the events at Borough Market highlighted the need for reform in regard to terrorism cover for business interruption insurance.”
A year after the June 03 terrorist attack on London Bridge and Borough Market, British Insurance Brokers’ Association (BIBA) executive director Graeme Trudgill summed up the sentiments recognising the shortfalls when it comes to protection against the changing face of terrorism. With the shift from massive property damage to ‘lone wolf’ attacks and use of vehicles as weapons, insurers have a lot of catching up to do.
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