September 22, 2010 by Chesterfield Canada Inc.
Chesterfield Canada Inc., a specialist independent Wholesale Broker, part of the Chesterfield Group, a Lloyd’s broker, today announced the launch of its Sabotage and Terrorism product to the Canadian market.
The new product is designed to provide a better breadth of coverage to the Client and takes the guess work out of what constitutes an act of terrorism.
Current coverage offerings in the Canadian market tend to only provide the narrower coverage for the peril of Terrorism which is defined as an act of a foreign government or organisation, whereas research has shown that the greatest threat to Bodily Injury and Property damage comes from Domestic individuals or groups with a grudge against a business or Institution.
Mr Hirst, Director of Marketing, who has over 25 years’ experience specialising in the World-Wide Wholesale Market, commented, “There have been a number of high profile incidents of Property Damage around the World where the single peril of Terrorism has proven to be inadequate coverage and in the hour of need when you expect your insurance Policy to respond, it doesn’t, we want to have clarity in the Coverage our Clients buy from us”.
“This Product is part of our commitment to our broker clients who expect their wholesaler partner to remain competitive not only in price but in product development, and with an in house capacity of $100,000,000, backed by Lloyd’s syndicates, we are able to respond to the majority of coverage requests.”
The Team in Toronto will focus on all hard to place property and casualty classes, builders risks, sabotage and terrorism and renewable energy power production classes of insurance.
The Chesterfield Group
The Chesterfield Group, established in 1999, is a wholesale and full service non-marine insurance organisation which specialises in the development of binding authority and industrial/commercial facultative business for clients worldwide.
Authorised by the Financial Services Authority and an accredited Lloyd’s broker, the Chesterfield Group operates actively with all the major international markets.
For more information, please contact:
Chesterfield Group &nbs
+44 20 7481 1683