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Stand Alone Terrorism Coverage

Stand-Alone Terrorism Coverage

Definition

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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