How the recent Improvised Explosive Devices incident highlights the need for first-party Fleet damage cover

Following the Improvised Explosive Devices (IED) sent via the postal system to Heathrow, Waterloo and London City Airport on 5th March, we caught up with our Terrorism Underwriting Manager, Gary Barlow, to find out more about how this highlights the need for fleet managers and brokers specialising in the fleet industry to consider a terrorism product that addresses the first-party damage risk to fleet operators on vehicles and trailers.

Counter Terrorism Policing has issued a statement on behalf of the National Coordinator Protect and Prepare, announcing that police are investigating three small IEDs which were sent in the mail, addressed to transport hubs. When one was opened, a small fire started, and it is suspected that the other two were designed to operate in the same way.

This incident draws attention to the issue that couriers, hauliers and logistics providers often do not know what they are actually carrying. The couriers who transported these packages to their destinations were implicated in the risk of potential physical damage, and this risk is often not covered by standard fleet insurance policies.

If these devices had been faulty and/or detonated prematurely in the vehicles in transit, as well as the loss of cargo to interested parties, there would have been direct physical damage to the vehicles which would most likely not have been insured under the all-risks fleet policy that would have been in place.

This is where our NMU’s Terrorism Motor Fleet product comes into its own.

Read Gary’s full blog here.

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