Article date: 25 April 2002
Norwich Union is sending details of the new terrorism exclusionsacross commercial and personal lines products to itsintermediaries. In addition wordings for the war exclusion arebeing standardised for most products.
These changes come into effect on 1 July for new business andrenewals.
The principles behind the review ensure:
- policyholders can be confident they have the cover they needto comply with the law
- that detailed analysis of exposure has been undertaken on allproducts to ensure appropriate cover changes are made.
John Seaton, director of underwriting at Norwich Union, said:“The insurance industry has been reviewing its approach toterrorism cover since 11 September. We trust that the informationwe are providing to intermediaries will give clarity on the NorwichUnion strategy.”
For further information about Norwich Union’s approach toterrorism cover, contact Jenny Chapman at Norwich Union on 08703 6668 64 or 07775 822642 to arrange an interview with John Seaton.
Notes to editors:
- Norwich Union is the UK’s largest insurer. In generalinsurance it is more than 1.5 times the size of its nearestcompetitor, and has a 19 per cent share of the market.
- It has a focus on insurance for individuals and smallbusinesses. It insures:
- one in five households
- one in five motor vehicles
- more than 700,000 businesses
- Norwich Union products are available through a variety ofdistribution channels including brokers, corporate partners suchas banks and building societies, and Norwich Union Direct.
- Norwich Union's news releases are available on this internetsite
- A selection of ima
- ges is available from the CGNUNewscast site at www.newscast.co.uk together with an image of JohnSeaton.
- 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 Number99122 Registered Office 8 Surrey Street Norwich NR1 3TA
- Member of the CGNU group of companies and the GeneralInsurance Standards Council