XL Catlin has introduced ‘Active Assailant’ coverage to its Asia Pacific Crisis Management product suite in response to the threat of physical attack faced by businesses and public service providers.
Stephen Ashwell, XL Catlin’s Chief Underwriting Officer for Crisis Management, said: “Sadly, global terror events and a number of recent, high profile attacks carried out by terrorist groups and individuals has brought into focus the need for such an insurance solution.
As well as providing coverage for standard property damage, Active Assailant coverage also provides coverage for business interruption coverage, which can be extended to include Denial of Access and Civil & Military authority coverage. It also provides enhanced Extra Expense coverage, which could include expenditures related to public relations assistance, relocation, counselling and/ or psychiatric care, medical expenses, additional security and job retraining.
Shelley Devane, Head of Crisis Management, Australia, added: “As security risk becomes relevant in developed economies as well as emerging countries, Australian businesses also become more susceptible to threats to their people, assets and operations.”