UK-based Ascent Underwriting, a Managing General Agent (MGA) specializing in emerging risks, has launched a general liability coverage extension to further enhance the cover provided to small and mid-market business clients [SME’s].
The announcement noted that “businesses operating in all sectors need comprehensive coverage that reflects both emerging risks and the more traditional general liability exposures. Organizations purchasing technology, cyber liability insurance, and a separate general liability policy to protect their business may find certain exposures are not adequately covered.”
Ascent said its new coverage “is designed to bridge the gap between business risks associated with emerging cyber related risk and more traditional exposures. It has been developed to provide a market leading network security and professional risks solution with additional coverage modules for general liability written on an occurrence basis with a separate limit of indemnity.”
Gareth Tungatt, a Director of Ascent, explained: “While it is vitally important to understand client requirements and provide cutting edge insurance products for modern risks, the market should not overlook the continuing need for general liability coverage.
“Ascent’s ability to offer a comprehensive solution will eliminate some grey areas of coverage between cyber and traditional policies and ensure clients have access to comprehensive protection for both their current exposures and emerging risks.”
The new product complements Ascent’s comprehensive solutions for professional and non-tangible risks. It is part of a number of new coverage initiatives that Ascent is planning to develop during 2013 to enhance its niche product portfolio.
Source: Ascent Underwriting