Catlin Group introduces new CBRN insurance coverage
Underwritten by Catlin Syndicate at Lloyd's and Catlin U.K., the "U.K. Asymmetric" product includes comprehensive coverage of property damage, business interruption, general and employers' liability, clean-up costs and consultancy expenses that could arise from either a CBRN terrorist attack or a CBRN threat.
The Catlin Group first introduced CBRN coverage in 2006, becoming a pioneer in the underwriting of insurance covering such events.
As part of the U.K. Asymmetric coverage, the U.K.-based SecureBio, which specializes in providing high-security solutions from experienced CBRN experts, will provide pre-incident support and post-incident response services.
Among the unique services provided by SecureBio are reviews of CBRN resilience plans, crisis response training, quarterly threat intelligence updates, rapid post-incident response, clean-up and decontamination management, and liaising with government authorities.
"The U.K. Asymmetric product is a unique solution for assureds that goes far beyond current terrorism insurance offerings, either from state-backed terrorism pools or private insurers," Will Farmer, a Catlin underwriter specializing in terrorism insurance, said. "Catlin's partnership with SecureBio is key to this product. SecureBio is a pioneer in this field with a highly experienced team of operators and has a proven track record in dealing with CBRN incidents."