XL Catlin adds physical attack coverage to crisis management offering


XL Catlin has introduced active assailant coverage to its crisis management product suite.

The product has been introduced to respond to the threat of physical attack faced by businesses and public service providers.  The coverage responds to pre-meditated events, which XL Catlin says is a key differentiator.

XL, which announced last week it is planning to re-domicile to Bermuda from Ireland, said it believes there will be significant demand for the solution and has added additional capacity to support its development.

As well as providing coverage for standard property damage, active assailant coverage also provides cover for business interruption including a determination by authorities that the insured’s operations have to cease at their current location.

Business interruption coverage can be extended to include denial of access and civil and military authority coverage, which occurs when access and/or use of a facilities is either impaired or prohibited for a period of time following an active assailant event.

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.

Stephen Ashwell, chief underwriting officer for crisis management, XL Catlin, 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.

“Active assailant coverage will initially be underwritten in the UK, US, Germany and Asia-Pacific covering clients globally. The solution is designed to help organisations with the financial impacts of active assailant events ranging from business interruption, denial of access through to medical expenses and business rehabilitation costs.”

He added: “Incidents of this nature are terrible in all cases, that’s clear. Without the right insurance cover however, the aftermath can be just as devastating; crippling organisations and their function in society. This is why we have developed this coverage to help address the gaps there are in existing solutions, in a thorough and thoughtful way.”

XL Catlin, Active Assailant, Crisis Management, Stephen Ashwell, Bermuda

Bermuda Re