stand-alone terrorism coverage
A separate, specialty insurance policy that covers loss due to terrorism.
The vast majority of stand-alone terrorism policies are property policies that
cover loss resulting from damage to the insured's own property. Stand-alone
terrorism coverage contrasts with terrorism coverage provided as part of a commercial
property policy covering other risks of loss. It is purchased primarily by organizations
that are viewed by insurers as being at high risk of loss due to terrorism
in one of the following situations: when terrorism coverage is not available
as part of the commercial property policy, when the price of terrorism coverage
from the insurer providing the commercial property policy is too high, or when
the terrorism coverage offered by the insurer providing the commercial property
policy is too narrow.
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