Terrorism: Industry promises to assist victims following the attacks on the capital
Life insurers have reassured victims of the 7 July London bombings that claims will be paid under life, critical illness and income protection policies.
AXA Sun Life, BUPA, Legal & General, Norwich Union, Skandia and Standard Life have all confirmed that anyone caught up in the attacks will have a claim processed as normal with no exclusions for acts of terrorism.
Private medical insurance (PMI) providers have also stated their intention to assist victims and the bereaved in the coming months.
"All of the injured were taken directly to accident and emergency units in London hospitals which was the best place for them in the circumstances," said Lorna Wiltshire, media relations manager at Norwich Union Healthcare.
"Looking forward, we may receive some claims in the future for physiotherapy or counselling which policyholders might need to aid their recovery and we will assess these claims on a case-bycase basis." Legal & General excludes cover for injuries arising from hostilities and acts of war but has confirmed that it will waive that exclusion in light of the current circumstances.
While BUPA life policies cover acts of terrorism, its PMI offering does not.
However, Nicole Johnson, press officer at BUPA corporate communications, said the provider "will review any cases of our members injured by the London bombs sympathetically and on a case-by-case basis." The failure of a second coordinated bomb attack on the London transport system a fortnight later on 21 July has raised fears that such acts of terror, rather than being isolated incidents, may be the beginning of a new sustained campaign.
Most providers have moved quickly to rule out allowing such concerns to influence the terms of their life policies in future.
"We have no intention of applying higher premiums to residents or workers in central London," said Alison Turner- Holmes, protection marketing manager at Skandia.
"Exclusions for terrorism have existed in the past and due to low incidence in the UK have been removed from newer products.
It would be very difficult to regionalise terrorism, since in the past we have seen bombings across the UK, in Manchester, Brighton and Birmingham, for example," she added.
In addition to Skandia, Legal & General, Norwich Union and Scottish Equitable Protect have all confirmed that they will not be penalising Londoners for the perceived higher risk of living in the capital by raising premiums, and nor do they intend to introduce terrorism exclusions.
BUPA however refused to rule out future exclusions or rate changes claiming: "It is too early to say [if any changes will be made] at this stage." The blasts on three London underground trains and a bus in the morning rush hour on 7 July killed 56 people and left 700 injured.
