Police evacuate an injured female hostage from the scene. Photo: Getty Images

Treasurer Joe Hockey declared the siege at the Lindt Cafe in Sydney’s Martin Place a terrorist incident for insurance purposes.

“I have today declared the siege a terrorist incident for the purposes of the Terrorism Insurance Act,” Hockey said.

Some insurance companies would have terrorism exclusions listed in their policies and Hockey said the announcement would assist businesses, that incurred damages as a result of the incident, to make valid insurance claims.

“The effect of this ministerial declaration is that insurers will be prevented from refusing claims from affected businesses on the basis that their policies exclude losses from acts of terrorism.”

NOW READ: We Now Know A Lot More About The Final Moments Of The Sydney Siege

Business Insider Emails & Alerts Site highlights each day to your inbox. Email Address Join

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.