I welcome the Government’s attempt to use this Bill to close the terror insurance loophole, with the two provisos already mentioned, but there are other concerns that have not been addressed. Even if terror insurance now covers non-physical damage, the take-up of terror insurance covers only about 2.5% of UK businesses, and the Government have not addressed how to boost take-up and ensure greater coverage.
I thank the Minister for his letter, which I received today. It addresses two further issues. First, it is good that certification will be sped up, but there is no detail in the letter as to how that will be done. Secondly, there is no detail in it about how the potential for legislation to become out of date again will be addressed other than through a vague assurance. I hope that more detail will be provided in the other place.
The Bill was an opportunity to address the fact that some seek to take profits out of public generosity and public support when terror attacks occur. Sadly, giving only half a million pounds in profits, above admin costs, in the last year alone for Grenfell, Manchester and the London Bridge and Borough market attacks is appalling. That is pickpocketing from the victims of terror and it should have been addressed here. I hope the Government will look at this again before the Bill reaches the House of Lords.
Question put, That the Bill be now read the Third time.