Liberty launches significantly enhanced Political Violence policy
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.
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Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US and other international locations. We provide brokers and insureds with a broad range of products through both the Company and Lloyd’s markets and have over 1,700 staff in approximately 65 offices. Liberty Specialty Markets was established in September 2013 bringing together Liberty’s company, syndicate and reinsurance operations into one combined operation, composed of three business units: Commercial, Specialty, and Reinsurance (Liberty Mutual Re). This integrated approach means brokers and clients can benefit from our global reach and operating efficiencies.
Liberty Specialty Markets is part of global insurer, Liberty Mutual Insurance Group, a diversified global insurer, formed in 1912 and headquartered in Boston, Massachusetts. Liberty Mutual is the 5th largest global insurer based on 2017 gross written premium, with over 50,000 employees in 30 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care. We achieve this by offering a full range of personal, commercial, and specialty Property & Casualty insurance coverages. Our customers’ trust has earned us the 68th spot on the Fortune 100 list of largest corporations in the U.S., based on 2017 revenue.
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