While a terrorism policy is geared around property damage and interruption, active assailant cover is designed to “provide cover for victim and organization support costs and crisis management costs, as well as the insured’s legal liabilities,” Tuttlebee said.
Loss of attraction cover is also included in an active assailant policy, to “help the insured recover from any prolonged impact to revenue”, according to Tuttlebee.
Experts described active assailant insurance as a “newer” cover and put its worldwide age at between six and 10 years old, having developed out of terrorism and political violence practices. For comparison’s sake – cyber insurance, another line often seen to be young or evolving, came on to the Canadian market in the early 2000s.
Read more: What is cyber insurance?
Active assailant cover…