Current Challenges
Terrorism attacks has risen globally, along with civil unrest and riots. In Asia specifically, there has been an increasing number of terrorist attacks over the past decade namely in India, Thailand, Philippines and most recently Sri Lanka. Civil unrest, strikes and commotion are also on the rise in Hong Kong, which has had financial implications for organizations. This resulted in 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 Marsh policy wordings offer enhanced coverage by leading insurers for domestic Asian and/or Multinational Construction or Operational PVT Programs. The facility provides capacity of up to $500m each and every occurrence and in the annual aggregate for a combination of perils outlined below.
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, 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. 48-hour quote turnaround commitment pre-agreed by Leaders excluding Multinational Programs which require at least 3 weeks.
- Achieve faster 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 note that the features and terms listed on this page and on the brochure are applicable to all markets in Asia except for Hong Kong. Different features and terms apply to the facility in Hong Kong.