Current Challenges
The rise in terrorism attacks, civil unrest and riots globally, notwithstanding losses arising from the Russia-Ukraine War, has increased the demand for standalone Terrorism and/or Political Violence Insurance policies due to limited coverage available under property programs. In Asia specifically, there has been an increasing number of terrorism attacks over the past decade namely in Thailand, Philippines and most recently Sri Lanka. Civil unrest, strikes and commotion in Hong Kong had financial implications for organisations and resulted in an increase in demand for this product to ensure protection of assets and business interruption.
Our Solution
Our political violence and terrorism facility (PVT) enables comprehensive insurance coverage and competitive premiums with market leading insurers.
This regional solution covers the following perils:
- 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
For gross written premiums exceeding US$25,000, the Marsh Asia PVT Facility provides clients with Risk Consulting Services focused on risk and security assessments that produce in-depth insights into a company’s risk exposure (subject to terms and conditions under the facility).
Benefits
- Secure the most competitive terms from one of our four PVT Lead market-leading insurers.
- Automatic Total Sum Insured adjustment up to 15%.
- Broad territorial scope for both terrorism and political violence (other than sanctioned territories).
- Sabotage and terrorism limits of up to US$500 million mitigates the need for other markets to complete a program, helping clients avoid more onerous terms and conditions or elevated pricing.
- Faster quote turnaround times and policy issuance.
- Faster claims negotiations and settlement as the leader has full claims authority up to the limit of liability.
