NMU unveils terrorism product for fleets

NMU has launched a stand-alone terrorism product for motor fleet operators, Insurance Age can reveal.

The provider stated that the policy had been developed to recognise the changing nature of modern day terrorist attacks, which has seen a significant shift towards causing human casualties using motor vehicles as weapons.

According to NMU, the product, which is sold through brokers, provides motor fleet operators with the ability to protect against the risk of physical loss or damage following a range of terrorism perils and includes sabotage.

In addition, the insurer claimed the offering was unique in protecting against consequential financial losses, triggered by either damage or non-damage/malicious attack events.

The policy is designed specifically for the likes of coach/bus operators, hauliers, logistics providers, outside broadcasting and media entities, as well as council fleets.

NMU detailed that it provides protection on a 24/7 basis within a range of optional territorial limits, which can include Europe, for commercial vehicle fleets, including trailers, accessories and passenger effects.

NMU executive director Duncan McClean commented: “The evolving nature of terrorism incidents brings a whole new set of risks and exposures not previously considered or catered for.

“By recognising a gap in the motor market, I’m delighted that NMU have once again delivered with the provision of an innovative, niche product solution, designed specifically to include the unique and critical protection that fleet operators need.”

Source: Insurance Age