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Aon and Pembroke Managing Agency at Lloyd’s have teamed up to offer a new terrorism insurance product.
Aimed at helping businesses afford timely financial support to individuals affected by a terrorist attack either on a company’s premises or owned space, the Public Protection Policy (PPP) has an aggregate policy limit of up to US$50 million per event.
The partnership believes the offering will allow firms to take a responsive and structured approach while providing a measure of relief to those impacted.
Features of PPP include direct support to terrorism victims and their families, who often have to wait for months to receive financial aid. The product focuses on employees and third parties, instead of on property.
