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Lloyd's Responds to Ebola Crisis 31/10/2014
Aon, in partnership with Hiscox, has launched an Ebola liability product to cover gaps in policies bought by health care institutions. The product provides up to $25 million of liability coverage and offers worldwide coverage on cases in the U.S.
Independent Lloyd's insurer Ark has put together a multi-syndicate facility to offer policies covering continuing expenses for US businesses impacted by Ebola. The product will offer small US businesses first party continuing expense cover if they are forced to close by the authorities. Around half a dozen Lloyd's insurers are believed to be offering capacity to the facility, which will be led and bound by Ark. Insureds will have access to limits of up to around $2 million, with roughly $1 million expected to be the average limit.