A specialist private jet cancellation provider will be marketing Flight Cancellation insurance in the United States. Digitial business insurance platform Embroker will now be offering Cyber Insurance and Commercial Crime insurance
Specialist private jet cancellation provider, Falcon MGA Services, has teamed up with former Global CEO of Aon’s Aviation Specialty insurance Peter Schmitz to form JetSure USA.
JetSure USA will have exclusive rights to market the JetSure Aircraft on Ground (AOG), Flight Cancellation insurance in the United States.
The JetSure insurance package insures companies against the often unbudgeted and unexpected financial costs incurred in the event their aircraft suffers a technical fault. It’s designed to cover expenses not typically covered in an aviation insurance policy such as the cost to replace an aircraft AOG, re-location of the aircraft, crew costs and more. The formal launch of JetSure USA is expected to be at this year’s NBAA-BACE October 12-14 in Las Vegas, NV.
Embroker, a digital platform focused on business insurance, now offers two new standalone digital insurance products: Cyber Insurance and Commercial Crime Insurance.
Embroker insurance products, built digitally from the ground up, are designed for privately held small to medium sized businesses that are being underserved by legacy commercial insurance carriers.
Embroker’s new Cyber Insurance product covers both first and third-party financial losses resulting from data breaches and other cybercrimes that may compromise sensitive company and customer information. The new digital product includes many protections, including privacy liability, data breach response and forensics, social engineering, business interruption and ransomware cover.
Embroker’s new Commercial Crime Insurance product covers claims and losses due to crime-related issues committed by both employees and outside entities. The product’s first-party coverage protects a business from its own loses occurring as a result of some type of criminal activity. Its third-party coverage extends to a business’ clients from loss caused by theft resulting from the policyholder’s employees. Protections on the policy include core crime coverage, virtual mailbox coverage, source code theft and employee counseling.
Sources: JetSure USA and Embroker