Aon partners with Pembroke at Lloyd’s for public protection policy
Broker Aon is collaborating with Pembroke Managing Agency at Lloyd’s to develop a Public Protection Policy (PPP) to support the victims of terrorist attacks.
The PPP solution is designed to help businesses provide timely financial support to individuals affected by a terrorist attack on a company’s premises or owned space. The aggregate policy limit will be up to $50.0 million.
As the focus of terrorist attacks shifts towards mass human casualties, protecting individuals from external harm has become increasingly challenging, Aon said. Companies operating in public spaces or with exposures due to their public footprint are battling security exposures that continue to evolve, according to the corporate statement.
"When members of the public are injured in a terrorist attack, it can often take months for those affected to receive financial aid from either the government or (where available) charity funds," Aon explained. "PPP has been created in response to the growing need for a solution that reflects the very real cost to families impacted by these tragic events."
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