LSM has developed its existing political violence coverage to include a number of news risks.
Now included under one policy wording are; loss of attractions, denial of access, third party liability, employees liability, cyber, and bodily injury as a defined loss trigger.
In addition to the expanded coverage, LSM clients worldwide can benefit from greater capacity as the team is able to offer increased capacity to $250mn.
Head of marine at LSM, Mike Burle 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 $250mn 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.