Norwich Union is sending details of the new terrorism exclusions across commercial and personal lines products to its intermediaries. In addition wordings for the war exclusion are being standardised for most products.
Norwich Union is sending details of the new terrorism exclusions across commercial and personal lines products to its intermediaries. In addition wordings for the war exclusion are being standardised for most products.
These changes come into effect on 1 July for new business and renewals.
The principles behind the review ensure:
- policyholders can be confident they have the cover they need to comply with the law
- that detailed analysis of exposure has been undertaken on all products to ensure appropriate cover changes are made.
John Seaton, director of underwriting at Norwich Union, said: “The insurance industry has been reviewing its approach to terrorism cover since 11 September. We trust that the information we are providing to intermediaries will give clarity on the Norwich Union strategy.”
For further information about Norwich Union’s approach to terrorism cover, contact Jenny Chapman at Norwich Union on 08703 66 68 64 or 07775 822642 to arrange an interview with John Seaton.
Notes to editors:
- Norwich Union is the UK’s largest insurer. In general insurance it is more than 1.5 times the size of its nearest competitor, and has a 19 per cent share of the market.
- It has a focus on insurance for individuals and small businesses. It insures:
- one in five households
- one in five motor vehicles
- more than 700,000 businesses
- Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies, and Norwich Union Direct.
- Norwich Union's news releases are available on this internet site
- A selection of ima
- ges is available from the CGNU Newscast site at www.newscast.co.uk together with an image of John Seaton.
- An ISDN facility is available for studio quality interviews. Call the press office on 08703 66 68 68
- Norwich Union Insurance Limited Registered in England Number 99122 Registered Office 8 Surrey Street Norwich NR1 3TA
- Member of the CGNU group of companies and the General Insurance Standards Council