Hub adds violent acts liability coverage
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Hub International Ltd. said Wednesday it has launched a coverage designed to address the liability risks that may arise when businesses are impacted by malicious acts of violence.
Underwritten by Lloyd’s of London insurers, the violent acts liability insurance offers limits of up to $25 million, with the ability to secure more if needed.
The coverage is designed to bridge gaps in general liability and umbrella policies and provides broader coverage for third-party liability caused by violent acts that impact businesses’ facilities and operations, Hub said.
Coverage includes bodily injury to third parties and also mental distress suffered by injured individuals and by onlookers or family members of victims.
The coverage also offers a crisis fund designed to mitigate the immediate costs and impacts of an event, in addition to loss of revenue, pollution clean-up and prevention of access coverage for third-party businesses impacted by the event.
