AXA XL’s U.S. Mid-Market insurance business is extending its general liability coverage for mid-sized businesses with its new XL Plus broadening endorsement, offering more than two dozen expanded protections.

The XL Plus endorsement expands the scope and depth of coverage and broadens the range of protections, covering additional risks that are not included in the base policy. The expanded protections include coverage for:

• Damage to premises rented to the mid-sized business across a range of perils
• Automatic additional insured status when required in a written contract or agreement
• Blanket additional insured agreements for managers or lessors of premises, lessor of leased equipment, mortgagee, assignee or receiver, vendors, state or governmental agency, among others.
• Extension of bodily injury coverage to include mental anguish.

“Unexpected events – an on-site injury, a contract dispute, a costly lawsuit – impact businesses of all sizes. That’s why we are continuously reviewing our coverage to ensure it adequately addresses the constantly evolving risks our mid-size clients are facing,” commented Chris Fallon, head of U.S. Mid-Market Product & Analytics. “By including a broadening endorsement, our mid-size clients can enjoy a more comprehensive insurance package, reducing potential gaps in coverage and enhancing their financial protection against a wider range of risks.”

AXA XL’s Mid-Market team is building out AXA XL’s targeted mid-market client offering in the U.S. The team currently underwrites private equity and general industry insurance business and is building a dedicated underwriting team to address mid-sized construction businesses’ insurance needs.

Source: AXA XL

Topics
USA
Commercial Lines
Business Insurance
AXA XL