Aviva has added terrorism cover as standard to certain digitally traded SME products. The additional cover will apply to risks in Great Britain that have cover for property / material damage and where the combined property damage and business interruption sum insured is less than £10m.

The carrier said the move followed the launch of Pool Re’s SME Incentive Scheme, which seeks to make it easier for SMEs to secure terrorism cover. According to Aviva, the scheme has cut terrorism reinsurance costs significantly, enabling it to include the cover as standard in its insurance policies.

The standard cover has been added to Aviva’s digitally traded commercial combined, office and surgery, property owners, shop and salon and computers products. It says its contractors combined will follow in due course and that the cover will be added at renewal for existing customers.

Dave Martin, managing director, UK commercial and chief distribution officer at Aviva, said: “Many SMEs depend on their premises, equipment and stock to keep their businesses running, yet terrorism cover remains one of the least purchased commercial insurance protections.

"Too often, businesses are exposed without realising it. While they may not be the intended target of an attack, the impact of damage, disruption or being unable to access their premises can be significant.”

Tom Clementi, CEO, Pool Re, added: “I am delighted that Aviva is making use of Pool Re’s new SME Incentive Scheme which is designed to encourage insurers to reintegrate terrorism cover as standard into commercial property policies for SME customers.

“This move by Aviva will help to close the SME protection gap and thereby enhance the economic resilience of the UK economy to the threat of terrorism at a time of significant geopolitical uncertainty.”