3 Insurance Leaders Collaborate for Terrorism, Political Violence Solution

By Insurance Business

Three of the largest names in the insurance industry—Aon, Chubb, and Lloyd’s—collaborated to launch a risk solution to address terrorism and political violence, called Platinum. The stand-alone insurance product addresses the demands of the global environment’s complex regulatory network that multinational companies struggle to navigate. In response to increasing demands from clients, Platinum fulfills local regulatory demands through bespoke solutions with unprecedented limits and coverage within these markets. In lieu of a centralized parent office, the three insurance giants coordinate with one another to deliver this product, and also facilitate the settlement of all local premium taxes and the smooth repatriation of funds at the point of loss. There is a limit of US$500 million per policy featuring broad automatic extensions with optional additional coverages available for liability, non-damage business interruption, and cyber.

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25 Jul 2018

Tagged in: cybersecurity, Global, insurtech

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