Hiscox Adds Property Damage Protection to Terrorism Insurance Product

January 22, 2016

Hiscox has enhanced its stand-alone terrorism portfolio by adding new products covering property damage from 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.

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.

Hiscox provides 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.

Hiscox is headquartered in Bermuda and has 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 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. 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.

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