Eyes of the Fleet

Eyes of the Fleet

Thursday, December 21, 2006

Maritime "dirty bomb" insurance

Something for everyone's last minute gift list! Maritime "dirty bomb" insurance as set out here:
The TT Club says it will offer nuclear and bio-chemical terrorism cover, starting from January 1, 2007.

Cover will be available for physical loss, business interruption and liabilities, and will be applicable in incidents involving both actual damage caused by an incident or device and when an incident occurs or a device is discovered causing significant trade disruption but no physical damage.

The club is offering cover for both direct and indirect business interruption, for example, members with goods delayed due to the closure of a third-party facility as a result of a nuclear or bio-chemical terrorism incident anywhere in the world.

Limit options will provide cover up to a maximum of $25 million for any one incident per member while indirect business interruption losses will be available for limits up to a maximum of $5 million, any one incident, per member. A pool aggregate limit for all claims in any one year of US$100m is expected to be achieved.
Ain't commerce wonderful?

Policy image from The Trickery.

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