The terrorism cover provided by Pool Re members must be issued as part of the general commercial property policy which they are providing to the relevant insured.
Hence, terms and conditions that apply to the general cover will also apply to the terrorism cover. Equally, monetary limits that appear in the general policy also apply to the terrorism cover. For example, if the general commercial property policy is subject to a deductible amount such that losses below that amount cannot be recovered from the insurer, then the same deductible would apply also to the terrorism cover.
The only exclusions applying to the terrorism cover are in respect of:
- war and related risks
- damage to computer systems caused by virus, hacking and similar actions
There is no exclusion for chemical, biological, radiological or nuclear contamination and the terrorism cover provided by the Pool Re member is able, subject to the terms of the policy, to respond in situations in which damage has been caused by such means.