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Hub International launches Violent Acts Liability Insurance for businesses
Hub International, a global insurance brokerage and financial services firm, has launched a new policy designed to protect businesses from violent acts.
Violent Acts Liability Insurance is designed to bridge gaps in general liability and umbrella policies, to better ensure an organization’s resilience, safety and security by addressing the unique liability risks that arise from malicious acts of violence on business operations, it said in a press release.
“In a world where unforeseen acts of violence can disrupt lives and businesses in an instant, we are able to help clients face these uncertainties with greater confidence,” said Carol Murphy, executive vice-president. “HUB’s Violent Acts Liability Insurance offers not only broad coverage, crisis response and risk management but also solutions that meet company-specific and country-specific nuances and requirements.”
Underwritten by Lloyd’s of London, HUB’s Violent Acts Liability Insurance offers limits of up to $25 million with the ability to secure more if needed. While traditional excess casualty insurance protects against bodily injury and property damage allegations, Violent Acts Liability Insurance offers much broader coverage for the third-party liability caused by violent acts impacting the organization. These include mental anguish to onlookers or family members of victims who were not themselves injured. In addition, there is a very substantial crisis fund to protect our insured from the immediate costs and impacts, as well as coverage for third parties impacted by the event including loss of revenue, pollution clean-up and prevention of access.
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