Specialist Underwriting Agencies (SUA) has rolled out a new product to provide Australians protection against deadly weapons.
Read more: SUA : Everything you need to know
SUA’s new deadly weapons protection product, backed by Beazley, provides coverage for incidents involving individuals or groups of people actively engaged in killing or attempting to kill people using deadly weapons at an insured’s location.
The policy includes prevention service, crisis management service, and insurance cover to indemnify losses.
It covers not just firearms but a range of weapons, including knife, syringe, medical instrument, and more. The policy’s crisis management services are activated once a weapon is brandished or is actually used. The policy also covers for liability of up to $40,000,000 when harm is caused by attacks using deadly weapons, including business interruption and property damage costs.
Premium starts from $5,000 while the minimum deductible for the policy is $15,000.
