Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has launched stand-alone war and terrorism coverage to protect U.S. businesses at home and their assets abroad.
In 2014, the cost of global terrorism rose to levels not seen since 9/11 – an estimated U.S. $52.9 billion according to Global Terrorism Index by the Institute for Economics and Peace.
LIU’s new coverage can be customized to include business interruption and loss of attraction as well as extra expenses for business directly and indirectly impacted by a terrorist act. The policy is non-cancellable for up to five years.
“With more random and localized terrorist attacks causing increased casualties and mass disruption, U.S. businesses are finding themselves more vulnerable in different ways. Terrorism is one of the top concerns for CEOs. Companies and brokers who want to stay one step ahead of the curve are increasingly turning to stand-alone war and terrorism products which respond immediately and address key issues like business interruption and loss of attraction,” said Henry Nelson, who has transferred from Liberty’s London office to lead the U.S effort.
LIU’s War & Terrorism product covers a variety of event triggers, and target industries include: Commercial properties, construction, heavy industry, infrastructure, leisure and entertainment, manufacturing, municipalities, oil & gas, power generation, real estate, marine, retail and hotels.
Part of Liberty Mutual Insurance, LIU distributes global specialty lines products and services exclusively through the independent broker network worldwide to insure specialized risk in most countries in the world.
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