Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the launch of its expanded political violence coverage that now includes a range of new risks.
Now included under one policy wording are loss of attractions, denial of access, third party liability, employees liability, cyber, and bodily injury as a defined loss trigger.
“The frequency and randomness of terrorist attacks in towns and cities has been increasing in recent years, making businesses of all sizes more vulnerable,” commented Mike Burle, Head of Marine at LSM.
In addition to this expanded coverage, LSM clients worldwide can benefit from greater capacity as the team is able to offer increased capacity to $250 million.
Burle added, “The ability of terrorists to use fear to disrupt business without actually causing damage to a site is a fast-growing phenomenon, as is the use of lethal and accessible firearms to inflict mass casualties.”
The new expanded wordings will be available worldwide through Liberty offices in London, Dubai, Singapore, Sao Paulo and all the Continental European offices. The cover is available on company or Lloyd’s paper.
“We have listened to our clients and evolved our product to respond to their needs and concerns by adding items such as loss of attraction and denial of access, as well as including damage caused by firearms/weapons and unmanned vehicles such as drones,” said Burle.