Commercial losses from U.K. bombing mount.The terrorist bombs that hit London London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. during the morning rush hour July July: see month. 7 can be expected to generate the full range of insurance claims. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Association of British Insurers, likely categories include terrorism, business interruption INTERRUPTION. The effect of some act or circumstance which stops the course of a prescription or act of limitation's. 2. Interruption of the use of a thing is natural or civil. , household, life, health, motor and travel. The ABI Abi (ā`bī) [short for Abijah], in the Bible, King Hezekiah's mother. (Application Binary Interface) A specification for a specific hardware platform combined with the operating system. issued an advisory to its members and the public outlining procedures and the extent of coverage. "Terrorism cover is available to businesses as an optional add-on A purchase of additional goods before payment is made for goods already purchased. An add-on may be covered by a clause in an installment payment contract that allows the seller to hold a security interest in the earlier goods until full payment is made on the later goods. to their commercial insurance policy," the ABI said in a statement. "Property damage caused by explosion, as well as chemical, biological and nuclear contamination is covered in this way." Losses from business interruption, another option on commercial policies, are expected to be significant. Some businesses c were damaged or put out of action. Many employees were trapped in their offices all day. Theaters and restaurants in London's normally lively West End were closed on the evening of the blasts. The ABI noted that business interruption clauses would kick in if companies were forced to use other premises or had lost revenue because they were unable to enter their properties. Not only should clients review their policy wordings, the ABI said, but they should seek general advice from their insurers. Household insurance customers can expect to be compensated for terrorist-related fires and explosions. But the ABI said that household policies do not usually cover the effects of chemical, biological or nuclear attack. The ABI said the effects of terrorism would be covered by life insurance, while critical illness or income protection health insurance policies may not extend to terrorist claims. |
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