Aon joins the likes of CFC Underwriting, Aspen, Beazley, Hiscox and XL Catlin catering to the changing landscape of protection
Aon is partnering with Lloyd’s backed managing agency Pembroke to launch a Public Protection Policy (PPP) helping firms to support victims of terrorism.
It aims to combat the lengthy process of getting financial aid in the event of a terrorist attack.
The policy’s creation is in direct response to the shift in focus of claims for terrorist attacks and need for a solution that reflects the cost and impact on families in tragic events.
It is designed to provide financial support to individuals affected by acts of terrorism whilst on a company’s premises or owned space.
The policy includes direct support to terrorism victims and their families; timely financial support for victims; and a focus on employees and third parties - people rather than property.
It has an aggregate policy limit of up to $50m per event.
As the nature of terrorist attacks increasingly result in mass human casualties, protecting individuals from external harm has become increasingly challenging.
Companies operating in the public space or with exposure to the public are battling security exposure that continues to evolve.
And if members of the public are injured it can be a lengthy process getting financial aid from the government or charity funds.
Pembroke Managing Agency provides broker-sourced specialty property and casualty insurance coverages for varying risks globally.
But Aon aren’t the first to cater to this demographic. CFC Underwriting launched a policy covering victims from lone wolf attacks in 2015.
And at present a number of insurers offer standalone protection for active shooter incidents, in the London market. This includes Aspen, Beazley, Hiscox and XL Catlin.
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