TIA (Terror Insurance Additional)

A terror insurance additional premium is the extra charge a war-risk underwriter levies for a call or transit into an area listed for terrorism or related perils, on top of the base war-risk premium. It mirrors the additional-premium mechanism for Joint War Committee listed areas: the assured notifies underwriters of the planned voyage, usually within the customary seven-day notice convention, and the underwriter quotes the AP as a percentage of insured hull value. The terror element responds to attacks by non-state actors; it sits alongside hull war, strikes, and piracy additional premiums on the same policy.