The deadly terror attack in Nice, France, in July has prompted major insurer XL Catlin to improve its Active Assailant coverage.
The global insurance firm recently announced that it has updated the wording of Active Assailant solution to include the use of road vehicles in an attack.
Launched in May, the insurance product covers clients globally and is currently underwritten in the UK, US, Germany, and the Asia Pacific.
The solution is designed to help organisations with the financial impacts of active assailant events ranging from business interruption and medical expenses for employees and customers. XL Catlin said property damage or bodily injury can trigger Active Assailant coverage.
It also provides enhanced extra expense coverage, which may include costs related to public relations assistance, relocation, counselling or psychiatric care, additional security and job retraining.
“The tragic events that took place in Nice in July prompted us to review our coverage and we have now added the use of road vehicles in an attack to our covered events,” said Stephen Ashwell, XL Catlin’s chief underwriting officer for crisis management.
“It’s a sad fact that we are living in an age where groups and individuals, set on doing harm, are diversifying and modifying their methods and we have updated our solution to ensure we are providing relevant insurance coverage,” he added.
The Nice terror attack left more than 80 people dead on the evening of July 14 when a cargo truck was deliberately driven into crowds celebrating Bastille Day.
The incident was the third terror event to hit France since the beginning of 2015 and followed the Paris attacks in November.
Related stories:
Global insurer hires RSA veteran for key UK role
Insurance powerhouse completes redomicile, announces key Euro hire
