Aon has collaborated with Pembroke Managing Agency at Lloyd’s to develop Public Protection Policy (PPP), which helps businesses provide financial support to individuals affected by a terrorist attack on a company’s premises or owned space.
As the focus of terrorist attacks shifts towards mass human casualties, companies operating in public spaces or with exposures due to their public footprint are battling security exposures that continue to evolve, said Aon, explaining that when members of the public are injured in a terrorist attack, it can often take months for those affected to receive financial aid from either the government or (where available) charity funds.
PPP was created in response to the real cost to families affected by these tragic events, Aon said.
An aggregate policy limit of up to US$50 million per event enables firms to take a responsive and structured approach to such attacks, while providing a measure of relief to those affected, affirmed Aon.
The policy provides direct financial support to terrorism victims and their families, focused on employees and third parties — or people rather than property.
Source: Aon
Topics Catastrophe Natural Disasters Aon
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