Terrorism insurance is not automatically covered by property insurance but can be added.
The usual option for commercial property including blocks of flats is to purchase the cover using Pool Re. Pool Re have no exclusion for chemical, biological, radiological or nuclear contamination. This cover is normally purchased through the main property insurer as an extension to the main policy. The advantage of Pool Re is that it is ultimately Government backed and as such has excellent financial security.
The disadvantage of using Pool Re is that a policyholder must cover all the property they insure. They cannot use the scheme to insure only part of their property portfolio for terrorism.
There are therefore other providers that will allow you to cherry pick the properties you which to be covered. The security is usually provided by Lloyds of London so whilst not as secure as Pool Re still offers a Lloyds of London credit rating.
Household insurance does not cover terrorism and there is no Pool Re option to add this cover. If cover is required it would have to be purchased using an additional policy provided by a specialist terrorism insurer. Lloyds of London underwriters are the usual providers of this cover and RMK can assist with obtain terms from the various providers and cover.
Contact us today if you would like more information.