Amwins Group Inc. said on Tuesday that it combines two coverages, lethal gun protection and sexual assault liability, into a single policy.
Charlotte, a North Carolina-based wholesaler, said the coverage, written in collaboration with a London syndicate, will have annual premiums of $ 10,000 to $ 25,000 and $ 1 to $ 5 million in limits. Coverage also includes crisis management extensions of up to $ 1 million as a separate limit, the company said.
Amwins said this is the first product to provide these coverage to SMEs within a single policy.
The company stated in its statement that due to loss frequency and severity, many insurance companies protect their balance sheets by adding exceptions or potentially insufficient sublimits for these types of risks in general liability or other insurance, and that SMEs have been the most negative. affected by significant gaps or high retentions.
A spokeswoman said in a statement that the coverage is combined into a policy so that dealers do not have to find a separate replacement for each.