Hiscox introduced increased policy limits of up to $100m
Bermuda-based insurer Hiscox has launched its US-based team of terrorism underwriters which is reportedly designed to meet the terrorism insurance needs of businesses across Fortune 500 firms and private enterprise and institutions including U.S. firms with exposure to incidents of terrorism or political violence overseas.
Hiscox has introduced increased policy limits of up to $100 million in central urban areas, as well as a list of new products which cater to the same risk environment, including coverage for terrorism third party liabilities and wider political violence perils, said Hiscox.
In December 2008, Hiscox announced the appointment of Robert Cruz to head its U.S. terrorism underwriting operation. Prior to joining Hiscox, Mr. Cruz spent more than four years with American International Group (AIG) where he was the practice leader for AIG’s homeland security services. Mr. Cruz is also joined by Christianna Coates in Manhattan and Clara Chan in Boston.
Ms. Coates, underwriter of war, terrorism and political violence has been underwriting at Lloyd’s for Hiscox Syndicate 33 for two years before joining Hiscox’s New York team.
Ms. Chan, underwriter of terrorism property joined Hiscox’s U.S. terrorism underwriting operation from Lexington Insurance, where she was an underwriter in the property terrorism unit.