Treasury written question – answered at on 13 February 2006.
To ask the Chancellor of the Exchequer whether buildings insurance provided through Pool Re covers radiological, biological and chemical terrorist attack where the building is subsequently uninhabitable due to contamination without significant structural damage.
Pool Re provides reinsurance cover for commercial property damage and consequent business interruption resulting from an act of terrorism on mainland Great Britain (excluding war and cyber terrorism risks).
Where purchased, insurance cover provided under the Pool Re scheme by its members (insurance firms) is subject to the terms and conditions which appear in the underlying policies issued by those members, which will contain no exclusions for chemical, biological, radiological or nuclear effects applying to the terrorism cover. This means that such policies will include cover for property damage relating to radiological, biological and chemical effects where the cause is an act of terrorism. The extent of the insured's cover will ultimately depend on the contract between the insurer and insured.
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