This new solution, underwritten out of London, Guernsey, Hong Kong and Singapore has been designed to respond to the needs of companies which, without the coverage, would not have access to immediate, expert logistical support and run the risk of having to pick up the significant costs of evacuating employees from an affected area due to political emergency or natural disaster. It covers expenses such as the cost of transportation, accommodation and salary continuation.
Charlie Matheson, Global Head , Kidnap & Ransom explains: “Protecting employees and ensuring their wellbeing is of primary concern to multinational companies. In the event that they have to evacuate their people from an area of or even a country in the wake of a natural disaster, a terrorist attack or political unrest, what they need is an insurance coverage which is clear and responsive. We understand that, and that is also why our coverage includes 24/7 access to one of the world’s leading emergency evacuation response experts, Drum Cussac.”
Commenting on the launch of the solution, Stephen Ashwell, Chief Underwriting Officer Crisis Management at XL Catlin said: “We’ve seen how natural disasters, political violence, coups d’etat can appear with little or no warning and have wide-ranging consequences for the people they affect. In recent times the Arab Spring is one such noteworthy example.
Evacuations are not only costly; they can also be very complicated and stressful for individuals. As such, we’ve designed the ESDE solution to help companies protect their employees in the wake of these unforeseen and high impact events.”
The ESDE cover complements XL Catlin’s existing suite of solutions including Kidnap and Ransom, War, Terrorism and Political Violence, Product Recall and Event Cancellation.
About XL Catlin Insurance Operations
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd’s (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.
About Drum Cussac
A travel risk management and security specialist, Drum Cussac’s core business is protecting clients’ assets and employees travelling or located anywhere in the world. Drum Cussac’s research and intelligence capability keeps clients up to speed on fast moving global risk and security related events and the company provides 24/7 emergency, crisis and advisory support during incidents or at periods of heightened uncertainty, insecurity and instability. To learn more, visit drum-cussac.com.