Berkley Re Solutions, a re/insurance solutions developer, has announced its partnership with Barton Mutual Insurance Company to launch a personal insurance product line for violent events.
This product aims to provide coverage for individuals and families who experience traumatic events. It has been designed to be broad-ranging and address the potentially life-altering impacts on victims of a violent event, and was created with feedback and guidance from carriers across the nation.
The Violent Events coverage addresses a number of expenses in the case of such an event occurring, these include: lost wages, travel expenses, pet care, child care, mental health counselling, alarm/lock installation, funeral/burial costs, and in-home care -provided when the insured can no longer provide care to someone due to injury.
According to the announcement, Barton Mutual Insurance Company – which provides property and casualty insurance throughout Missouri – will be the first company in the US to offer this type of coverage to their personal lines policyholders as an endorsement to their homeowner’s coverage forms.
Brian King, Barton Mutual Insurance Company President, said: “This dynamic and innovative product offers peace of mind to individuals in today’s trying times, and we are pleased to work with Berkley Re Solutions in delivering it to market.
“We are honoured to bring this impactful solution to our agents and policyholders. It’s one more way to support customers if they are devastated by such a terrible event.”
Greg Douglas, President of Berkley Re Solutions said that for decades, insurance providers consistently have led the way by delivering coverages and services for economic and personal hardships, and this is one more example.
“Barton Mutual’s leadership on this evolutionary coverage is inspiring; we commend Brian, his leadership team and the Barton Mutual Board of Directors for their vision.
“People and their families sadly now find themselves in situations where they have to navigate a society where random, violent events are increasingly common, so the need for consumer insurance which provides assistance to them in case the unthinkable ever occurs is essential.”
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.