The NBCR Terror act from 1^st of July 2019 covers losses as a result of a NBCR terror. This means that the Danish State will cover a terror attack in Denmark with NBCR weapons for all policyholders with an insurance covering fire. This coverage will now be excluded from AGCS insurance in Denmark. The NBCR Terror act covers damages on property, vehicles, vessels, Business Interruption and polluted land caused by a NBCR terror attack - it is a condition that there is an insurance with fire coverage. There is no premium to be paid until after a NBCR terror attack. 

If an attack happens

It is ‘Terrorforsikringsrådet’ that assesses and decides whether an attack will be categorized as a NBCR terror attack. In case of a NBCR attack and you have a loss and an insurance with fire coverage with AGCS you will have to claim your loss to AGCS who will handle the claim on behalf of ‘Terrorforsikringsrådet’. The Danish State guarantees a pool of up to DKK 13,4bn (2010-level) for payments for the claimant(s). The pool is to be seen as a ‘loan’ as all policies with fire coverage after an Terror NBCR attack will be impacted by a 5% statutory levy to be added to future premiums - but only until the ‘NBCR pool’ is filled up.

NBCR Terror is the International abbreviation for Nuclear, Biological, Chemical, and Radiological Terror.

For more information about the NBCR act follow this link or click here for the trade organization Forsikring & Pension.