Hiscox Expands Terrorism Coverage
NEW YORK, NY - January 19, 2016 - Hiscox, the international specialist insurer, today announced that they have enhanced their stand-alone Terrorism portfolio adding new products covering property damage due to malicious attacks utilizing nuclear, chemical, biological and radiological (NCBR) devices. Hiscox NCBR policies offer coverage of up to $25 million for blast damage, decontamination and clean-up costs, as well as lost income due to related government actions. Hiscox also recently introduced coverage for Threat of a Malicious Act. The new Threat product protects businesses against threats of malicious acts that can result in costly disruptions to businesses and lost sales revenues.
"The threat of attacks utilizing chemical and biological weapons from terrorist groups like ISIS is substantial and increasing. It's important that organizations are covered for related losses and business interruption costs from potential attacks," said Jennifer Rubin, Hiscox Global Practice Group Head - War, Terrorism & Political Violence. "Hiscox's products serve a wide range of businesses in need of the certainty that comes with insurance coverage for attacks and threats."
Hiscox policyholders also receive access to Control Risks risk advisory services both before and after incidents to reduce their total risk. Control Risks global risk consultancy partners exclusively with Hiscox to offer their clients specialized advice on how to prepare, prevent and mitigate malicious acts through direct consultation and a 24/7 helpline.
"Coverage of NCBR attacks is an important component of our overall terrorism offering," said Michael Jordan, Terrorism Underwriter for Hiscox London Market. "It's important that our clients and broker partners know that we offer coverage for the full scope of potential costs related to threats and attacks."
Hiscox provides industry leading coverage for Terrorism, NCBR and other politically violent activities without a requirement for government certification of a terrorist attack and no minimum loss requirements. The capacity stands independent of the US government-backed Terrorism Risk Insurance Reauthorization Act (TRIPRA).
Hiscox has a diverse portfolio of commercial, professional liability and specialty insurance products, and has offices in New York, London, United Kingdom and 29 additional cities in 14 countries.
Additional information can be found at www.hiscoxbroker.com
Follow Hiscox USA on Twitter @Hiscox_USA.
– End –
About Hiscox in the U.S.
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE: HSX). There are three main underwriting parts of the Group -- Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox International includes operations in Bermuda, Guernsey and the USA. Hiscox Syndicates Ltd is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The ability of syndicates at Lloyd's to do business in the USA, and its territories, is restricted as they are not US-based insurers. Hiscox Underwriting Limited and Hiscox ASM Limited are authorized and regulated by the Financial Conduct Authority. The publication of this information is not intended to be a solicitation by Lloyd's for the purchase of insurance on any US risk.
Hiscox Inc., a Delaware corporation headquartered in New York, d/b/a Hiscox Insurance Agency in CA, is a licensed insurance intermediary for admitted and surplus lines business. Hiscox Inc. underwrites on behalf of, and places business with, Hiscox Insurance Company Inc., other domestic insurers, and syndicates at Lloyd's (www.lloyds.com). Hiscox Insurance Company Inc. is a Chicago, IL domiciled insurer which is admitted or licensed to do business in all 50 states and the District of Columbia.
– End –
For further information, please contact: