istock-106492379-2
iStock/ Zabelin
27 September 2018Insurance

Aon partners with Pembroke at Lloyd’s for public protection policy

Broker Aon is collaborating with Pembroke Managing Agency at Lloyd’s to develop a Public Protection Policy (PPP) to support the victims of terrorist attacks.

The PPP solution is designed to help businesses provide timely financial support to individuals affected by a terrorist attack on a company’s premises or owned space. The aggregate policy limit will be up to $50.0 million.

As the focus of terrorist attacks shifts towards mass human casualties, protecting individuals from external harm has become increasingly challenging, Aon said. Companies operating in public spaces or with exposures due to their public footprint are battling security exposures that continue to evolve, according to the corporate statement.

"When members of the public are injured in a terrorist attack, it can often take months for those affected to receive financial aid from either the government or (where available) charity funds," Aon explained. "PPP has been created in response to the growing need for a solution that reflects the very real cost to families impacted by these tragic events."

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

Munich Re, Hannover Re go for lower margin risk than SCOR

Zurich makes $0.4bn Adira acquisition

S&P upgrades Berkshire insurance units outlook

Ardonagh buys Swinton Group for £165m from Covéa

Munich Re, XL, Sompo invest $20m in insurtech Slice

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
23 October 2018   Property/casualty insurer Liberty Mutual Insurance is undertaking a strategic review of its London-based Pembroke Managing Agency, which came into its portfolio when it acquired lronshore in May 2017.
Insurance
22 October 2018   Aon’s Reinsurance Solutions business will reveal more details of two new units this week: one focused on de-risking public sector bodies and a new capital advisory unit. Nick Frankland, UK chief executive, discloses more to Baden-Baden Today.
Insurance
1 October 2018   Aon has launched its Americas capital advisory team to help re/insurers identify and deliver balance sheet solutions that reduce volatility and increase profitability.