Hiscox USA, the specialist insurer, has introduced a new Terrorism and Sabotage Insurance form for municipalities that offers offers industry-specific terrorism language and currently includes the broadest definition of terrorism in the market with limits up to $100M.

Hiscox has claimed that its policy does not require government certification of a terrorist attack and has no minimum loss requirements. The capacity stands independent of the US Terrorism Risk Insurance Program Reauthorization Act.

The new form, which also provides sabotage coverage, covers first and third party liability with limits up to $25M, and provides overall property, business interruption and extra expenses.

Moreover, Hiscox insured’s can add Nuclear, Chemical, Biological and Radiologica (NCBR) coverage to the policy with limits up to $25M.

Hiscox USA vice president Rob Cruz said, most insurance policies have extreme exclusions and make it difficult for municipalities to see the value in getting coverage. At Hiscox, the company has developed a unique product specifically for these insured’s that is not restricted by the need for government certification and also offers the ability to add NCBR coverage at competitive pricing.