Lockton, the world’s largest privately held insurance broker, recently announced that it is launching a package of risk management solutions called Enterprise Disruption Contingency Insurance designed to help companies cope with previously “uninsurable” risks.
Lockton’s Enterprise Disruption Contingency Insurance offers an innovative “umbrella solution” for such grey area risks as loss of intellectual property rights, inability to manufacture or distribute a product because of another organization’s product recall, regulatory risks, and information technology network disruptions or suspensions.
“The aim is not to offer an all-inclusive solution for every conceivable supply chain or infrastructure risk,” said Ian Harrison, partner with Lockton’s Global Risks team in London. “We work with risk managers to focus on key areas of vulnerability and areas where redundant systems or business continuity planning alone do not provide sufficient safeguard. It’s a true collaboration between the client, broker, and underwriter.”
Click here to read more about how “New Risk Management Tools Help Companies Insure the Uninsurable” .
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