Do you know about the insurance protection that covers you from damage due to acts of terrorism?

We understand the grief and shock you experienced recently at the hands of suicide bombers who shattered the peace and freedom we have enjoyed for 10 years, following the defeat of terrorism.

As a leading player in the insurance industry, People’s Insurance takes this opportunity to educate and inform you that if you have an insurance cover that includes acts of terrorism, you are entitled to compensation, if your property has been damaged or destroyed.

We need not point out that although you may not be the intended target of a terrorist attack, nearby explosions can cause damage to your property… your lifetime earnings/acquisitions.

A standard house and property insurance policy widely available in the market does not provide riot and terrorism cover. You can, however, obtain cover for terrorism that will guarantee you a cash settlement. All you have to do is answer “yes”, to the question: “do you require terrorism cover?” when filling out your insurance application form. Please note that, it is essential that you also have the ‘riot’ cover as a precaution, so that you may obtain a settlement if your property or vehicle(s) is damaged due to acts committed during a riot or protest.

An act of terrorism is defined as an act, including but not limited to to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or in connection with any organisation(s) or government(s), committed for political, religious, ideological or ethnic purposes or reasons including the intention to influence any government and/or to put the public, or any section of the public in fear.

Further, any loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, or resulting from any action taken in controlling, preventing, suppressing action during any engagement between Government forces and any group as identified about on land, sea, air, shall be regarded as falling within the definition of ‘terrorism’.

The riot and terrorism cover offered by the National Insurance Trust Fund can be obtained through People’s Insurance. You can obtain further information by calling 0112 206 306 or by logging onto www.peoplesinsurance.lk.