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Willis, insurance company partner in real estate program



Willis Towers Watson PLC on Thursday said it has partnered with nine insurance companies to offer a new real estate program that provides extended real estate and liability protection for multiple industries.

Coverage within the Real Estate Differentiated Broking Solutions program will be provided by Allianz SE, AmTrust Financial Services Inc., CNA Financial Corp., Crum & Forster, Hartford Financial Services Group, QBE Insurance Group Ltd., Sompo International Holdings Ltd. , The Travelers Cos. Inc. and Zurich Insurance Group.

The program focuses on real estate and other investment offices, hotels, townhouses, camps and other accommodation, golf courses and shopping malls, said Willis Towers Watson in a statement.

Basic coverage available through the program includes property, general liability, business car, employee compensation and umbrella liability insurance, said Willis Towers Watson.

Extended deductibles available include a $ 1

million limit for conditional time elements, civil authority coverage within a five mile radius, electronic vandalism coverage, a $ 5 million limit for newly acquired premises – real estate and a $ 1 million limit for off-earnings interruption of service.

Coverage is available on a stand-alone or extended package basis and minimum coverage requirements are negotiated.

"The uncertain and rapidly changing insurance market combined with increased exposure to risks for our clients requires an insurance risk transfer strategy in order to effectively navigate these dangerous times," said Joe Peiser, Global Broker at Willis Towers Watson, in a statement.

"This new program will create a way to minimize real estate customers' exposure to losses while adapting to an insurance company's risk appetite," says Peiser. Catalog

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