XL Catlin is selling a new policy designed to help U.S. companies that store, handle and transport goods. Ironshore is beefing up its terrorism/shooter coverage with an added endorsement.
XL Catlin started selling a comprehensive new logistics services insurance policy, targeting U.S. businesses who must manage the risks of storing, handling and transporting goods.
The policy, dubbed Logistics Services Coverage Solutions, would give a logistics company customer tailored inland marine insurance for “virtually any commodity,” XL Catlin said.
Coverage will help address risks connected with order processing, packaging, consolidation, inventory control, transportation, warehousing and data management. The Insuring Agreement includes Right and Duty to Defend as well as Supplemental Payments. Overall, there are 26 additional coverages on hand so company customers can have a tailored insurance product to meet their specific insurance needs.
Ironshore added a crisis management coverage feature/extension to its Terrorism & Sabotage program.
The Terrorism Crisis Threesixty endorsement comes with no additional cost, for all in-force stand-alone Terrorism policies. Ironshore designed it as an automatic extension that offers insureds access to crisis response specialists after U.S. incidents involving terrorism or an “active shooter event.”
As structured, Terrorism Crisis Threesixty offers third party reimbursement for crisis management services and fees, with limits of up to $100,000 per occurrence.
Crisis management services can include on-site control and containment, counseling services, internal and external communications, and timely response to national media coverage. On the active shooter side, cover will protect against losses relating to property damage and business interruption, including denial of access. There’s also liability cover.
Sources: XL Catlin, Ironshore