XL Catlin, a subsidiary of Bermuda-based XL Group, has introduced an emergency security and disaster evacuation (ESDE) solution for businesses with employees working internationally.
The solution is underwritten out of London, Guernsey, Hong Kong and Singapore, and covers expenses such as the cost of transportation, accommodation and salary continuation.
It has been designed to respond to the needs of companies which, without the coverage, would not have access to immediate logistical support and run the risk of having to put up the significant costs of evacuating employees from an affected area due to political emergency or natural disaster.
Charlie Matheson, global head of kidnap and ransom, explained: “Protecting employees and ensuring their wellbeing is of primary concern to multinational companies.
“In the event that they have to evacuate their people from an area of or even a country in the wake of a natural disaster, a terrorist attack or political unrest, what they need is an insurance coverage which is clear and responsive.
“We understand that, and that is also why our coverage includes 24/7 access to one of the world’s leading emergency evacuation response experts, Drum Cussac.”
Stephen Ashwell, chief underwriting officer of 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.”
XL Catlin, Bermuda, London, Guernsey, Hong Kong, Terrorism, Catastrophe