Stephen Ashwell, XL Catlin’s Chief Underwriting Officer for Crisis Management said: “The tragic events that took place in Nice in July prompted us to review our coverage and we have now added the use of road vehicles in an attack to our covered events. It’s a sad fact that we are living in an age where groups and individuals, set on doing harm, are diversifying and modifying their methods and we have updated our solution to ensure we are providing relevant insurance coverage.”
XL Catlin launched its Active Assailant solution in May 2016. It is currently underwritten in the UK, U.S., Germany and Asia Pacific covering clients globally. The solution is designed to help organisations with the financial impacts of Active Assailant events ranging from business interruption through to counselling and medical expenses for employees and customers. Coverage can be triggered by property damage or bodily injury.
As well as providing coverage for standard Property damage, Active Assailant coverage also provides coverage for Business Interruption including a determination by authorities that the client’s operations have to cease at their current location. The new endorsement also provides enhanced Extra Expense coverage, which may include expenditures related to public relations assistance, relocation, counselling and/ or psychiatric care, medical expenses, additional security and job retraining.
About XL Catlin’s 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.