New product created to fill gaps in coverage following a terrorist attack

As a means to meet the increased demand for a product that responds to heightened risk exposure associated with high profile events, Ironshore International is launching what it says is a customized, comprehensive insurance solution.

The SecurEvent policy was launched in response to recent events that revealed potential gaps in insurance coverage in the aftermath of a terrorist attack.

It is a single broad form policy that offers a suite of coverage protection, including broad form contingency, general liability, accidental death & dismemberment insurance, as well as pre- and post- event crisis management coverage via Ironshore’s CrisisThreeSixty policy enhancement.

The policy can be tailored to meet specific sponsor organizational risk requirements for single day events, as well as events held over an extended time period. Ironshore will underwrite the coverage through its Lloyd’s Pembroke Syndicate 4000, based in London.

The offering is customized to meet potential risk exposure surrounding high profile events, thereby assuring event organizers, sponsors, stadium owners/operators, as well as hosting locales, of comprehensive protection against violent attacks.

Coverage responds to losses arising from terrorist acts without the requirement of receiving formal recognition that the event occurrence has been defined as such within the meaning of Terrorism Risk Insurance Program Reauthorization Act (TRIPRA).

“Terrorism and political violence attacks are designed to cause maximum human suffering and economic loss and, unlike natural catastrophic events, they are calculated strikes,” said Mark Wheeler, CEO of Ironshore International.

Ironshore’s SecurEvent suite of coverages provides broad form contingency insurance to address cancellation, curtailment or abandonment of the event, including terrorist acts, as well as general liability insurance resulting from bodily injury as a result of a terrorist act.

Accidental death & dismemberment insurance offers coverage for harmed individuals on a fixed benefit injury basis. The policy can also include provisions for pre- and post- event crisis advisory services.