TT Club to cover “dirty bombs”

TT Club to cover “dirty bombs”

TT Club to cover “dirty bombs”

TT Club, the specialist transport insurance provider, said it plans to offer nuclear and biochemical terrorism cover, starting Jan. 1.
   The company said it would offer cover for physical loss, business interruption and liabilities. The cover would be applicable in incidents involving both actual damage caused by an incident or device, and when an incident occurs or a device is discovered causing significant trade disruption but no physical damage.
   The insurer said the cover would be for both direct and indirect business interruption, for example 'goods delayed due to the closure of a third-party facility as a result of a nuclear or biochemical terrorism incident anywhere in the world.'
   Limits will be up to a maximum of $25 million for any one incident per member, while indirect business interruption losses would be available for limits up to a maximum of $5 million any one incident, per member.
   It said it expected to achieve a pool aggregate limit for all claims in any one year of $100 million.