Changing times, changing needs, changing responses.
That sums up what Liberty Specialty Markets (LSM) has done with its political violence proposition – not only updating the policy wording to expand coverage but also upping capacity to $250 million.
New risks added include loss of attraction, denial of access, third-party liability, employees liability, cyber, and bodily injury as a defined loss trigger. The increased capacity is available to LSM clients worldwide.
“The frequency and randomness of terrorist attacks in towns and cities has been increasing in recent years, making businesses of all sizes more vulnerable,” said LSM marine head Mike Burle (pictured). “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 $250 million to help our clients ensure they have the coverage they need.”
Through offices in London, Dubai, Singapore, Sao Paulo, as well as Continental European locations, LSM offers its expanded political violence cover on either company or Lloyd’s paper.
