Talbot AIG’s malicious assailant cover is designed to deliver assurance and help organisations ensure they have plans in place should an incident involving an armed individual or group occur. Our specialist team can offer tailored packages for organisations of all sizes and across all sectors.

Recent firearm and vehicle attacks in the US have brought malicious assailant events to the forefront for both business and public sector risk managers. This has led to an increased drive to mitigate against the potential losses stemming from such an incident. Our malicious assailant product provides affirmative cover designed to fill the gap left by conventional terrorism policies and provides comprehensive coverage against the vast number of ways losses can be incurred.

Cover

Talbot AIG has the capacity to provide up to $75 million in cover. 

Talbot AIG provides worldwide cover for SRCC. We can offer protection against property damage and business interruption losses sustained during a committed action by a group of people to disturb the public peace for political purposes or motivations.

Previous events to have triggered SRCC policies include:

• Arab Spring (2010) a series of anti-government protests, uprisings and armed rebellions that spread across North Africa and the Middle East resulting in significant property damage and business interruption.
• Riots in Thailand (2013-2014) during a period of political instability resulted in anti-government protests which lead to extensive property damage and business interruption.
• Riots in Mexico (January 2017) following a rise in fuel prices, resulting in looting, property damage, and business interruption.
• Riots in Haiti (March 2018) during which a hotel was targeted by local civilians resulting in significant property damage

Cover

Talbot AIG has the capacity to provide up to $175 million in cover.

Denial of access insurance provides cover for costs associated with business interruption following an authority’s decision to shut down a building, location or area after an act of terrorism or civil unrest.

This can arise as a result of police, governmental or military action. Whilst property damage following an event may be minimal, the potential business interruption which can arise while authorities contain events and conduct investigations may be extensive. This can result in significant financial implications for local businesses.

The 2017 London Bridge terror attack, for example, caused heavy disruption for businesses in the local area. Following the event, police cordoned off the Borough Market area for a week, resulting in significant loss of revenue for restaurants and bars in the vicinity.

Cover

Talbot AIG has the capacity to provide up to $75 million in cover, including:

• Sabotage and terrorism
• Strikes, riots and civil commotion

Denial of access cover can be purchased as a standalone product or as part of a wider sabotage and terrorism policy.

A terrorist or malicious event within the locality of a business may often result in reduction in footfall or custom, potentially impacting both revenue and reputation.

Loss of attraction products are designed to respond when no actual physical damage occurs at an insured location: rather, an event that results in physical damage or bodily injury occurs within a pre-defined radius of the insured business, or at a previously identified location that could impact trade. Forensic accountants would then be consulted to determine the extent of the financial loss and the calculable downturn in revenue.

Loss of attraction addresses potential longer-term financial consequences due to a drop in footfall or custom. In the three months following the November 2015 Paris attacks and March 2016 Brussels attack, hotel reservations were down 22% and 17% respectively on the previous year, representing a significant income shortfall for hospitality providers.

Another possible scenario could involve a terrorist attack occurring at an airport, causing a reduction in bookings at local hotels or tourism hotspots. In this instance, customers are either prevented from staying at local hotels or are forced to cancel their holiday. The consequences of this unexpected loss of revenue can severely impact businesses.

Recent scenarios affecting tourism

• Paris Attacks (2015)
• Brussels Bombings (2016)
• Barcelona Las Ramblas Attack (2017)
• Fort Lauderdale Airport Shooting (2017)
• London Bridge Attack (2017)

Cover

Talbot AIG has the capacity to provide up to $75 million in cover, including: 

• Perils including sabotage and terrorism, strikes, riots and civil commotion, malicious attacks and political violence.
• Indemnity for net profit loss, extra expense and crisis management where, as a direct result, the insured suffers a loss of attraction.
• Options include setting a trigger based on a set radius of an attack near an insured location, and/or, specific locations that may have a direct relationship to an insured location’s custom.

The Talbot AIG NBCR product has been designed to respond to the multitude of threats posed by opportunistic use of nuclear, biological, chemical, and radiological agents.

It was the first in the market to include third party liability cover, as well as cover for property damage and business interruption.

NBCR perils are considered to have significant ‘footprints’ in respect of the damage and disruption an attack could cause, especially in built-up, metropolitan areas. Research conducted by blast modelling experts has shown NBCR materials have the potential to spread significant distances:

Cover

Through the Talbot-led NBCR consortium we have the capacity to provide up to $50 million in cover, including:

• Property damage
• Business interruption
• Third party liability
•  Costs of decontamination / clean up

Talbot AIG’s political violence product was designed to enable clients to manage the risk posed by the potential outbreak of war – international or civil. Policies are designed to offer a solution that is highly-specialised and tailored to respond to the priorities of the specific organisation.

Against the backdrop of an increasingly unpredictable global political stage, political violence is an ever-present risk. Political violence cover would be triggered in the event of an incident such as civil war or international war breaking out. This could have significant impact on an entire country’s economy and require companies operating there to weigh up significant risks both to personnel and property.

Cover

Political violence cover encapsulates all perils from war, both international and civil, through to rebellion, coup d’etat or revolution.

Talbot AIG has the capacity to provide up to $50million in cover.

Sabotage and terrorism combined liability provides cover for the insured’s liabilities to third parties and employees where damages are sought for property damage or bodily injury following an insured event. Terrorism liability can be offered on a standalone basis or purchased alongside property damage and business interruption policies.

Cover

Sabotage and terrorism combined liability cover is available up to $175 million, including cover for:

• Damages for bodily injury
• Third party property damage
• Defence costs
• Claims expenses

Security Risk Response and Resilience (SRRR) offers a global, holistic and complete security solution, combining Talbot’s Political Violence insurance expertise with AIG’s Crisis Solution capabilities. 

SRRR provides both Property, Business Interruption and Liability cover - for Political Violence, Malicious Assailant and Strikes, Terrorism and Riots and Civil Commotion - alongside an elite crisis consultancy response. Further supported by leading crisis, security and trauma specialists, SRRR supports clients before, during and after an incident, enabling businesses to move into a recovery phase.

Product Details

SRRR is a group collaboration and is sold on both Talbot paper and AIG paper, bringing together the distribution networks and market leadership across both classes of business.

Talbot AIG provides terrorism threat insurance, covering businesses against loss of income through interruption without the need for there to have been physical damage as a trigger. This means that broader malicious acts, intended by terrorists to use fear to disrupt business, are covered in addition to direct sabotage and physical acts of terrorism. This could include acts such as threats of terrorist action or bomb hoaxes.

Whether real or a hoax, the threat of a terrorist attack can result in substantial business interruption and a subsequent loss of income. Terrorism threat insurance can be tailored to the individual needs of each client, providing peace of mind and mitigating the impact should a business be required to evacuate or lock-down as a result of a terrorist threat.

Cover

Talbot AIG has the capacity to provide up to $75 million in cover.