Global insurance carrier XL Catlin
has launched its Emergency Security and Disaster Evacuation (ESDE) solution, targeted at businesses with employees working internationally.
The new product is designed to cater to the needs of companies which do not have access to logistics support and other services to evacuate its employees in an area affected by a political emergency or natural disaster. The solution, underwritten out of London, Guernsey, Singapore, and Hong Kong, will cover expenses such as the cost of transportation, accommodation and salary continuation.
Charlie Matheson, XL Catlin
’s global product head for kidnap & ransom explained why the product is deemed so important.
“Protecting employees and ensuring their wellbeing is of primary concern to multinational companies,” he said. “In the event that they have to evacuate their people from an area of or even a country in the wake of a natural disaster, a terrorist attack or political unrest, what they need is an insurance coverage which is clear and responsive. We understand that, and that is also why our coverage includes 24/7 access to one of the world’s leading emergency evacuation response experts, Drum Cussac.”
The new ESDE product is intended to work in tandem with the insurer’s existing coverages such as kidnap and ransom, war, terrorism and political violence, product recall, and event cancellation.
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