XL Catlin updates active assailant coverage following Nice attacks
XL Catlin has updated its active assailant coverage to include the use of road vehicles in an attack.
Active assailant coverage, as well as providing coverage for stand property damage, provides coverage for the financial impact from business interruption, including a determination by authorities that the client’s operations have to cease at their current location.
“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,” said Stephen Ashwell, chief underwriting officer for crisis management at XL Catlin.
Introduced in May 2016 and currently underwritten in the UK, US, Germany and Asia Pacific, the solution also covers events such as counselling and medical expenses for employees and customers, and is triggered by property damage or bodily injury.
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.
