By Pete Watts, Underwriting Manager
Throughout Unimutual’s history we have sought to identify emerging risks that the evolving global landscape throws up to our members. During recent times, we have identified these exposures early and where possible we have offered tangible, protection solutions in addition to the regular guidance provided through our Risk Management team.
These recent initiatives have included the addition of Environmental Liability protection, Cyber Liability protection and the expanding of covers available through Unimutual with Management Liability being an excellent example. With the offering of these additional protections we look to our broking partners to discuss a member’s needs and whether it’s appropriate to consider buying increased cover or buying down retentions.
We are constantly reviewing our suite of offerings and working closely with you, our broking partners, to enhance the Unimutual offering.
2016-2017 has been no different with Unimutual unveiling its Active Assailant Protection as a stand-alone cover. With the increasing threat of terrorism and lone wolf attacks against soft targets and the evolving way in which evil minded terror merchants choose to strike against us we have considered this risk, over and above the property damage and business interruption exposure to take in immediate response. The horror of the Nice, France attacks on Bastille Day in 2016 where a lone wolf attacker used a large truck to attack crowds of Bastille Day revellers, killing 86 and wounding 434, highlighted just how easy it is to wreak havoc utilising unsophisticated methods.
Whilst Unimutual would like the ability to thwart any attacks on our members, we simply cannot and we have sought to assist in the immediate response, should one of our members be faced with this scenario.
What will trigger the Active Assailant Protections to respond?
A premeditated malicious physical attack, wither at the premises or at the location of and during an activity organised and/or paid for by a member, by an active assailant who is physically present and armed with a Hand Held Weapon* or an action of the relevant authority taken in suppressing, controlling, minimising the immediate consequences of such an attack.
*Hand Held Weapon includes motor vehicles.
The Active Assailant protection, when triggered, will offer the following.
Public Relations Expenses
Reputational damage is a huge concern for our members and whilst it would be hard to level the blame at the feet of a member following an event, the inevitable media invasion will be relentless and expenses to manage the message will be essential.
The costs incurred as a result of a required relocation following a protected event for up to 90 days following the loss.
Costs could mount considerably for those injured in an event with coverage extending to $10,000 per person for up to 30 days following an event for any employee, visitor, customer, contractor, student and/or patient.
Counselling Expenses and/or Psychiatric Care
Thinking above those that are physically injured as a result of an event, the protections offer to cover the expenses for counselling and psychiatric care for any employee, visitor, customer, contractor, student and/or patient of the member that is physically present during the event. This cover extends to $10,000 per person for a maximum of 24 months following an event.
Job Retraining and Recruitment Expenses
Expenses incurred to retrain employees or replace employees physically present during an event provided these expenses are incurred within 90 days of the event.
Additional Security Measures
Mutual approved security measures for up to 30 days following an event.
Property Damage and Business Interruption
Sitting above both the property and terrorism protections.
Any other expenses that we deem reasonable in the circumstances.
It is unthinkable that any member could be faced with such a scenario, therefore it’s entirely plausible that expenses not previously considered could arise. This is an excellent inclusion offering wider consideration for a member.
The standard limit of liability offered is what could be considered ‘entry level’ with each member provided with AUD 2,000,000 any one claim and in the annual aggregate. However, the option exists for you, as broking advisors to our joint clients, to explore the exposures and the need for buying up limits which are currently available to AUD 35,000,000.
For greater detail or specific protection terms, conditions or exclusions please refer to the Unimutual PDS or contact Unimutual directly.