Rush for terrorism cover

Hundreds of homeowners have rushed to apply for a new policy covering terrorism.

On Monday niche insurer Rural & General Insurance offered for sale a new policy that covers war and terrorism. Although the insurer is targeting commercial properties it has been mainly households applying for the insurance.

The cost of the policy would be about $35 for a property valued at $250,000. The policy is not a normal home insurance policy but is a stand-alone product that just covers terrorism and war.

The Sydney Morning Herald, p2, 16/1/02