Axa XL adds hostage and assault bonus cover
Hostage and assault crisis response coverage has been added as a complimentary bonus for clients who have Axa XL’s pollution insurance for real estate businesses and portfolios.
The company said that by tapping into its crisis management expertise it has been able to add the response coverage as “value-added protection”.
“The possibility of a hostage or assault situation occurring on their premises might not have been a consideration for our property owner and manager clients in the past,” Denise Balen, head of US security risks for Axa XL, said.
“However, given recent events we see all too often, the issue has taken on new importance and raised concerns. The added Hostage Crisis and Assault endorsement gives these clients immediate access to crisis management response services and financial assistance to help mitigate damages.”
The endorsement includes coverage for a hostage or assault incident, including potential ransom delivery, extra expenses incurred as a result of the incident, legal liability and consultant services.
Matt O’Malley, president of Axa XL’s North America environmental business, said: “Our added hostage/assault response coverage gives our real estate clients added piece of mind that should an incident occur, they have the insurance coverage and added crisis management resources to address it quickly with minimal harm to occupants, their facilities and their reputation.”