XL Catlin’s insurance operations has announced the launch of an Emergency Security and Disaster Evacuation (ESDE) solution for businesses in Asia.
This new solution, underwritten out of Hong Kong and Singapore as well as London and Guernsey 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.
Alex Smith, Underwriter, Crisis Management for XL Catlin’s insurance business in Asia explains: “The safety, security and well-being of employees are critical concerns for multinational companies, be it in their home country or overseas. Crisis events such as natural disasters, political unrest and terrorism can happen anywhere, at any time, endangering the security of individuals. When that happens, employees and their families may need to leave an area, or even the country very quickly.”
XL Catlin Launches Emergency Security And Disaster Evacuation Solution https://t.co/QRtROw3mFQ
— XL Catlin (@XLCatlin) November 23, 2016
Mr. Smith adds: “Most companies in Asia rely on medical and travel security firms for an evacuation event, but this can be a costly and complicated way of obtaining coverage. What we have done here is provide a straightforward, bespoke solution which provides certainty around what is covered. Additionally, clients also have immediate 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.