Global terrorism insurance that is adept at crossing borders
The statistics are very real and quite unsettling. Terrorism attacks destroy lives and livelihoods. The 2019 Global Terrorism Index found that after peaking in 2014, deaths from terrorism halved in the last four years. But the number of countries affected by terrorism is growing.1
- “South Asia has had the highest impact from terrorism since 2002, while Central America and the Caribbean region has had the lowest impact.
- Terrorism still remains a global security threat with 71 countries recording at least one death in 2018 — the second highest number of countries since 2002 and four more than in 2017.
- The global economic impact of terrorism was US$33 billion in 2018, a decrease of 38 per cent from the previous year.”2
If your organization has operations in any other country in the world, you are managing risk exposures that cross borders. No country is immune to a terrorist attack and statistics show that some countries are unfortunately more susceptible than others to incidents of terror.
A U.S. national consortium at the University of Maryland finds that “there were 2,974 terrorist attacks in the United States between January 1970 and March 2019”3 And “about 89% of the terrorist attacks in the United States from 1970 to March 2019 did not result in any deaths.”3
Related Matters: Politifact.com: Terrorism in the United States: key facts, patterns and trends
“However, more than 3,800 people were killed (including more than 70 perpetrators) over this timespan, largely from the coordinated attacks of 9/11.”4
For any Canadian company with operations outside of Canada, these statistics are real and deeply unsettling. Here at ALIGNED we have deep relationships with top insurance companies in Canada.
As a result, we can deliver comprehensive coverage options to our clients. If your business needs protection for global terrorism risks, our brokers can get you ALIGNED with options now.
Get Global Terrorism insurance options ALIGNED. Use our online form to start your quote now.
1 in 4 Canadian employees works for a multinational
Multinationals cross borders everyday. And crossing any border adds complexity as well as highly specific risk exposures to your organization. 2019 analysis by Statistics Canada notes that, “although less than 1% of all enterprises were multinational enterprises (MNEs), they held 67% of all assets in the Canadian economy.“5
- “Most MNE’s assets in non-financial industries were held in manufacturing, distributive trades and extraction.
- MNEs held more assets in depository credit intermediation than domestic enterprises.
- The financial industries were dominated by MNEs, which held 72.1% of total assets
- Overall, one in four employees in the Canadian economy worked for MNEs in 2016.”6
Globalization is bringing us all closer together. And unfortunately, this is also bringing global terrorism risks closer to home.
This is why Canadian organizations with exposures to global terrorism risks need to align themselves with the best possible insurance solutions. One of many top Canadian insurance companies that we work with is AIG.
AIG delivers a global terrorism product that delivers coverage to many industries with operations outside of Canada.
- “Real Estate
- Financial Institutions
- Governmental and Iconic Buildings
- Healthcare, Hospitality & Gaming
- Builder’s Risk
- Public Entities
- Chemical and Petrochemical Facilities
- Manufacturing and Process Industries
- Utilities (power, water, sewer, telecom)
And AIG delivers more than just coverage. They are a top-rated insurance company that also provides a broad range of specialized services. AIG risk engineers actively help businesses with managing terrorism risk exposures while maintaining business continuity. The services AIG provides are broad.
- “Site surveys specifically designed around Terrorism risk, including developing Terrorism related loss estimates
- Identify certain vulnerabilities and develop practical cost effective solutions to help maintain business continuity
- Assess(ing) certain threats to our client’s operations while assessing the general security environment
- Recommend(ing) design solutions that can be made during new construction to help counter threats
- Consult(ing) with clients to incorporate their individual protection into the overall risk assessment
- Safety Act Support (US based clients)”8
If your business is facing global terrorism threats, we can get you aligned with AIG insurance options. Our insurance brokers across Canada can help you secure global terrorism coverage that will respond when you need it most.
AIG’s outstanding claims promise
We are proud to work with more than 65 top business insurance companies in Canada.
What sets us apart in the marketplace is our exclusive focus on commercial insurance. This means that every ALIGNED insurance broker is 100% dedicated and focussed on business insurance only. Above all, it means that we understand the nuances of commercial insurance and which insurance companies are the best for specialized products like global terrorism coverage.
In addition to offering a comprehensive product to Canadian companies, AIG also delivers a strong claims promise. Specifically:
“The AIG Property Claims Promise affirms that our dedicated team of claims experts will mobilize in rapid response to a covered event and will advance our policyholders up to 50% of an agreed loss estimate within 7 days, giving them the immediate working funds they need for property damage and repairs, clean-up costs and extra expenses.”9
Keep reading: AIG.com: Global Terrorism
Here’s what else AIG can offer your organization:
- “We help our clients understand the degree of geo-political risk threatening their specific sites with respect to terrorism and political violence perils.
- Provide up to $1 billion USD of worldwide terrorism limits on either a standalone or embedded basis, with up to $2.5 billion USD of certified and non-certified TRIA limits for clients with policies covering property, and written within the United States.
- In 2002, AIG was the first to offer terrorism insurance following the 9/11 event.
- IntelliRisk® Services provides clients with 24/7 web-based access to their multinational program’s claims information and claim reporting capabilities, as well as the ability to generate run reports by multiple variables including policy type, country, and date of loss.
- May extend coverage for political violence perils which include insurrection, rebellion, coup d’état, mutiny, strikes riot civil commotion and malicious damage. For property within the United States, our policies may cover certified and non-certified acts of terrorism.
- We can provide coverage on a primary, excess or difference in conditions basis.
- Ability to issue a local admitted policy for our multinational clients. Clients can count on our support to provide world class services globally. We have local market expertise and on-the-ground resources that span an expansive network of over 200 countries and jurisdictions.”10
In short | Get global terrorism coverage aligned now
We know the global terrorism statistics are real and unsettling. We also know that our clients need coverage that will respond when worst case scenarios occur.
Connect with any of our ALIGNED Insurance brokers to learn more about AIG Global Terrorism coverage options now.
Source(s): 1,2 Newswire.ca: 2019 Global Terrorism Index ; 3,4 Politifact.com: Terrorism in the United States: key facts, patterns and trends ; 5,6 Statistics Canada: Multinational enterprises in Canada ; 7,8,9,10 AIG.com: Global Terrorism ;