XL Catlin’s insurance operation, in collaboration with global crisis-response partner S-RM and global crisis-communications specialist firm Instinctif, has rolled out a new global risk management and insurance product.
XL Catlin’s Corporate CPR (Crisis Prevention and Response for corporate clients) has been designed to help companies of any size prevent, prepare for, and respond to crisis situations, and help protect their people, assets, property, and finances.
The new product offers pre-crisis planning and training against the threat of crisis events, fast and expert response in a crisis event, and communications support during a crisis event. It covers 45 named crisis events under six categories of catastrophes: criminal risks, cyber threats, people risks, political risks, and political violence.
The new offering may be bought in conjunction with a variety of other traditional risk-transfer coverage options, including kidnap and ransom, emergency evacuation, and a range of crisis management insurance products.
“Today, organisations face new risks and new crisis situations, whether it’s a man-made disaster, natural disaster, active assailant event, or a major cyber breach, and taking a holistic approach to crisis management is key to resilience,” said Charlie Matheson, global product head, kidnap and ransom, crisis management at XL Catlin.
Matheson said the product was developed using input from clients and leading crisis response specialists.
“This product is not about pure risk transfer, it’s about preparedness and setting our clients on the right foot,” he explained.
“From data breaches and financial crime, to terrorism and natural disasters, today’s risks are increasingly wide-ranging and unpredictable,” said Anton Wallis, senior director for crisis management at S-RM. “This means that a comprehensive, integrated and flexible approach to crisis management is critical, so that organisations are fully prepared and supported.”
