Aimed at large or complex clients, new solution recognises effective terrorism risk management
Arthur J. Gallagher has launched a new risk-modelled terrorism solution in a response to the evolving global threats.
Designed for companies with premium spend in excess of £1,000, the new solution can cater for both UK and US-domiciled clients and combines risk management with broking placement.
Backed by a panel of Lloyd’s syndicates and company market underwriters, the new terrorism solution has been specifically designed to offer large or complex clients a bespoke risk-based underwriting solution that recognises the value and in-built resilience of existing crisis management and business continuity plans, the brokerage firm said.
Paul Bassett, managing director of crisis management at Arthur J. Gallagher, said: “Crucially, we don’t believe a one-size-fits-all is appropriate and the underwriters we work with both understand the benefits of effective terrorism risk management and are prepared to recognise this through adjusted premiums as appropriate.”
Justin Priestley, director of crisis management, added: “It could be argued that no insurance policy ever prevented loss of life, whereas effective crisis risk management most certainly has. That’s why we champion a four-step approach to assessing, mitigating and transferring our clients’ terrorism risks: anticipate, prevent, respond and recover.”
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