Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, today announces that it has developed its existing Political Violence coverage to include a range of news risks, offering much more expansive cover under one policy wording. These include:
- Loss of attraction
- Denial of access
- Third party liability
- Employees liability
- Bodily injury as a defined loss trigger
In addition to this expanded coverage, LSM clients worldwide can benefit from greater capacity as the team is able to offer increased capacity to $250m.
Mike Burle, Head of Marine at LSM, said: “The frequency and randomness of terrorist attacks in towns and cities has been increasing in recent years, making businesses of all sizes more vulnerable. 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.
“So, 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. In line with this greater demand, we have increased our capacity to $250m to help our clients ensure they have the coverage they need.”
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.