Special Report
Property Risks: Appreciating the extent of an organisation’s various property risks. Read the full article to learn more.
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Overview
Growing awareness
Growing reports of terrorist attacks in certain regions have aroused worldwide this threat. While Malaysian companies have not been direct targets, businesses should still consider the risk to their operations as a result collateral damage from an event, and to their overseas operations which maybe at risk.
Risk mitigation
With no control over the timing, severity and location of such events, a risk mitigation strategy of safeguarding against the risk by taking out appropriate insurance on the property and resulting lost income, could mean the difference between minimising losses and irreparable damage to the organisation.
Who is it for?
Sectors that may possibly have a higher exposure to this type of event include:
- Hospitality and Leisure, including hotels, integrated resorts, casinos, stadiums and sports centres
- Media and Telecommunications, including transmitters, studios and tower structures
- Infrastructure (tunnels, transportation systems, waste treatment, land reclamation work and roads)
- Government, Public and Facilities buildings (Embassies, Ministry buildings)
- Public Supplies (Power and Energy, Water and Gas)
- Financial Institutions
- Educational establishments
What is covered?
Our Property Terrorism insurance against Acts of Terrorism was specifically designed to cover the following risks:
- Sabotage - Deliberate subversion to cause harm or destruction of property
- Terrorism - The unlawful use of violence against persons or property including policy objectives