Multiline property and casualty insurer Ace Group has introduced new multinational political violence and terrorism insurance product, Political Violence and Terrorism Plus, for businesses in Continental Europe, the Middle East and Africa and Asia Pacific.
Available through the firm’s global network, the new product provides integrated cover across the spectrum of terrorism and political violence perils.
Clients will be given bomb hoax threat cover and transit cover for goods in transportation.
Ace is also offering looting and pillaging cover for clients in the retail sector, as well as variable and integrated business interruption (BI) cover, providing flexibility to clients to select their interested BI cover.
Political Violence and Terrorism Plus policy will also provide contingent business interruption extension covers, including denial of access, public utilities and customers and suppliers extensions.
Ace overseas general and terrorism and political violence product head Piers Gregory said: "With the launch of ACE Shield in 2012, and our recently announced increase in capacity offered of up to USD$100m, ACE has continued to establish its market position as a leader and innovator in terrorism and political violence risk solutions."
In September, the firm introduced new Global Cyber Facility product for large insureds, offering around $100m per insured for qualifying risks globally.
Image: Ace Europe, Middle East and Africa headquarters in London, UK. Photo: courtesy of ACE Group.