Current Challenges
The widespread terrorism attacks globally along with civil unrest, strikes and commotion in Hong Kong since June 2019 has had financial implications for organizations. There has been an increase in demand for stand-alone Terrorism and or Political Violence policies due to the limited coverage available under property programs to ensure the protection of assets and against business interruption.
Our Solution
Marsh Asia PVT Facility is a bespoke solution for clients to secure broad stand-alone Political Violence and Terrorism coverage. The facility can provide automatic capacity of US$375 million for Sabotage and Terrorism, and up to US$50 million for a combination of Sabotage and Terrorism, Riots, Strikes and/or Civil Commotion, Malicious Damage and Political Violence, and up to US$75 million for Terrorism Liability. The Marsh policy wordings offer enhanced coverage by leading insurers for domestic Asian and/or Multinational Construction or Operational PVT Programs.
Perils include:
- Sabotage and/or Terrorism
- Riots, Strikes and/or Civil Commotion
- Malicious Damage
- Insurrection, Revolution or Rebellion
- Mutiny and/or Coup d'Etat
- War and/or Civil War and/or any hostile act by or against a Belligerent Power
Optional extensions available:
- Business Interruption
- Delay in Start Up
- Terrorism Liability
- Active Assailant
The Marsh Asia PVT Facility will automatically offer Marsh Advisory Consulting Solutions (for Gross Written Premiums exceeding US$7,500) to gain more insights on a company’s risk exposure, subject to terms and conditions under our facility.
Benefits
- Secure the most competitive terms from one of our 4 PVT Lead (Re)Insurers.
- With limits available up to US$500 million (subject to certain caps, parameters and exclusions), this mitigates the need for other markets to complete a program, setting more onerous terms and conditions or elevating the price.
- Enables faster quote turnaround times and policy issuance. 3 working days quote turnaround commitment pre-agreed by Leaders excluding Multinational Programs which require at least 3 weeks.
- Achieve efficient claims negotiations and settlement as the Leader has full claims authority up to the limit of liability (KPIs are in place to support this).
Download to find out more about Marsh Asia PVT Facility. Please contact your local Marsh representative for further details.