Prime Insurance Agency Blog

All You Ever Wanted to Know About Insurance

Will Trump’s Foreign Policy Help US Business?

In his quest to counteract a global intolerance to others’ way of life, the US president’s visit to three major cornerstones of the world – the Vatican in Rome and most markedly to the Middle East: Saudi Arabia and Israel - Donald Trump may go where no leader has gone before: facilitate a brokerage between long-time foes in an effort to battle the common enemy of radical terrorism.

Terrorism: Past, Present and Future of Related Insurance

Before September of 2001, not too many business people thought much of a terror related risk. In fact, so remote was the likelihood of a terror attack that insurance companies did not even have a separate classification for associated coverage. Businesses that had an all-perils policy including catastrophic losses were generally protected from the possibility of terrorism damages. Business, as they say, went on as usual.

The events of 9/11, however, transformed the broad outlook on terror. Without warning, insurance providers suddenly were confronted by the raw reality of a changing globe, where terror related incidents were not exclusively part of a third-world doctrine. With foreign and home-grown agents of the evil, as well as ‘lone wolf’ sympathizers, the all-inclusive all-perils coverage suddenly was no longer a solution. Terrorism coverage was abruptly removed from many commercial insurance policies. Now, the coverage could only be acquired as an additional rider to a business policy – something that a qualified, experienced agent would need to assess according to individual liability needs.

As President Trump attempts to unite world religions and forces against a mutual radical destroying enemy, the future prospects of a better world, devoid of the violent trend can, hopefully, be on the horizon. When that happens, insurance perils, once thought to be a given, may no longer be viewed as such – allowing room for the insurance perspective to evolve accordingly.

For more information on terrorism insurance and how it relates to your individual business, speak to a knowledgeable and guiding independent agent.

 

PRIME Insurance has been appointed to conduct direct business with big insurance names such as ACE, ASI, ASSURANT, CNA, CHUBB, FOREMOST, Liberty Mutual, MetLife, Plymouth Rock, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. With thousands of satisfied customers, we benefit policyholders by reviewing current coverage, as well as by shopping our wide network to locate tailored coverage at competitively lowest quotes.

HAVE A PRIME DAY™!
PRIME Insurance provides all forms of nationwide coverage, including NJ cheap auto insurance, low quote commercial umbrella insurance NJ, Houston, TX commercial property insurance, flood insurance, vacant property insurance FL, PA renters insurance, NY homeowners insurance,  bonds, NJ workers comp,  life insurance and more. We invite you to experience the PRIME difference by visiting us on our online insurance website; emailing us at PRIME [at] primeins [dot] com; or by calling us at 732-400-5242.

Summary: As President Donald Trump’s high-profile trip abroad underscores the new US foreign policy, insurance professionals wonder if it will ultimately bring about a change in terror related coverage.


Discussion

There are no comments yet.


Leave a Comment

Required fields are marked with

Comment

Your name, comment, and URL will appear on this page after it has been reviewed and approved. Your email address will not be published.