UK Widens Terror Insurance Law To Cover Trade Losses

Law360, London (February 13, 2019, 12:07 PM GMT) -- Parliament has approved changes to anti-terrorism laws that will allow British businesses to buy insurance cover that will pay out if they lose custom because they cannot trade in the aftermath of a terrorist attack, the government has said.

The Counter Terrorism and Border Security Act was brought into law on Tuesday, HM Treasury said. The new rules will allow insurers to offer policies through Pool Reinsurance Co. Ltd. that make it possible for U.K. companies to protect themselves from business losses run up behind a police cordon.

Insurance companies can now provide cover to businesses against losses from terror attacks suffered...

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