Loss of Attraction Insurance
The impact of terrorism can be long-lasting and felt by businesses indirectly affected by a terrorist attack. As highlighted in Thomas Cook’s recent results, Eastern Mediterranean holiday destinations have suffered this downtown particularly harshly; terror attacks have resulted in tourists deciding to holiday in Spain over Egypt, Turkey and Tunisia.
The purchase of a loss of attraction policy can cover a business for a downturn in their profits in the aftermath of a terrorist event, even if the business itself did not suffer any physical damage. Markel is developing a loss of attraction policy to ensure that our clients are protected against the indirect effects of terrorism which are unfortunately becoming more commonplace today.