July 10, 2018
Aon has joined together with Chubb and Lloyd’s to create a standalone terrorism and political violence solution, called Platinum, which addresses the demands of an increasingly regulated environment.
Platinum will provide globally admitted cover for firms with multinational operations that facilitate the settlement of all local premium taxes and the repatriation of funds at the point of loss, and will be coordinated through a single umbrella policy that ensures compliance with local regulatory and tax requirements, with policies issued locally in each territory.
Centrally coordinated by Aon and Chubb, clients will benefit from the economies of scale of a global policy approach, priced and underwritten in collaboration with the Lloyd’s market to ensure competitive cover, and backed by Chubb’s global network and experience servicing complex accounts in local markets.
Multinational companies operating in today’s challenging global space are required to meet the demands of complex regulatory networks while mitigating a diverse spread of country risks, which include the increased threat posed by terrorism and political violence.
Aon said this previously limited solution has been up-scaled to offer unprecedented limits and coverages within the stand-alone terrorism and political violence market.