A Liberty Mutual division launched new terrorism insurance coverage in Germany. W.R. Berkley Corp.’s Berkley One unit added or introduced new coverage to a number of states.
Liberty Mutual’s Liberty Specialty Markets unit has launched new terrorism insurance coverage in Germany.
Liberty Specialty Markets has used the standard London market cover since entering the market in 2018. The new terrorism coverage focuses on the small and medium sized enterprises (SME) sector in Germany.
The new coverage is comparable to Allgemeine Terror Bedingungen (ATB), the standard terrorism cover in the German market. In addition, LSM offers a range of optional covers; non-damage business interruption and a strikes, riots and civil commotion clause (SRCC). This offers cover for physical loss or damage directly caused by strikers, locked-out workers, participation in labor disruption, and various types of riots.
LSM entered the German war and terrorism market in 2018 as part of its strategy to extend its reach in Europe. Its German book of war and terrorism business is split between multi-nationals with worldwide exposure and domestic SME business.
W.R. Berkley Corp.’s Berkley One unit has added New Hew Hampshire and Virginia to states offering its personal insurance coverage. As well, it introduced Collector Vehicle cover in three states and Recreational Marine cover in four states.
Berkley One provides insurance for high net worth individuals and their families.
In New Hampshire and Virginia, Berkley One offers personal insurance cover including insurance for homes, condos and rentals, automobiles, fine art and collectibles, excess liability, flood and excess flood. In Virginia, Berkley One also adds Recreational Marine to its product suite.
Collector Vehicle, offered through Berkley One Classics, has expanded to Iowa, Nebraska and Texas and Recreational Marine has been added in Minnesota, New Jersey and New York. These products are offered through agents with a Classics or Recreational Marine appointment with Berkley One.
Berkley One’s current footprint includes Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia and Wisconsin. Collector Vehicle is available as a stand-alone product in Iowa, Nebraska, North Dakota and South Dakota and Recreational Marine is available as a stand-alone product in Maryland and Maine.
Sources: Liberty Specialty Markets, Berkley One