AXA XL’s global risk management (GRM) and North America excess casualty business units have teamed up to offer Multipass, its global admitted commercial umbrella programme.
Multipass combines an international controlled master programme with an umbrella liability policy. It extends the international primary general liability policy limit to meet a customer’s requirements in specific countries, helping US domiciled multinational businesses efficiently address their tax/compliance regulations and contractual obligations, AXA XL said.
Policies are written on local admitted paper for the country where requested, creating a more efficient end-to-end process for the client.
Stefan Homberger, GRM head of multinational casualty, said: “Businesses are often required to evidence admitted local general liability coverage above the primary liability limits. Multipass allows organisations to comply with these excess requirements under the global admitted commercial umbrella program.”
Nicoletta George, senior product line manager for AXA XL’s North America excess casualty business, said it is no longer enough for some global clients to evidence available capacity under a US umbrella policy.
“This combined product offering will enhance efficiencies for multinational clients, streamlining administrative operations and ensuring compliance with local jurisdictional requirements,” she said.
AXA XL, Multipass, Stefan Homberger, Nicoletta George