Specialist insurer Hiscox has launched a broker extranet system which provides a quick-click solution for US clients requiring terrorism cover of up to $25 million per building.
The Hiscox Terrorism Insurance Extranet system delivers instant quotes and policies for US terrorism insurance business cover through major UK brokers and US partners. The extranet provides online policies within ten minutes, says Hiscox, and is expected to be adopted by a number of brokers in the US.
Rob Childs, director of underwriting at Hiscox, comments: "Changes in the US terrorism insurance market post September 11 have resulted in a noticeable and worrying gap in cover for middle market US business."
Excluded from the Hiscox cover are the downtown and city centre areas of Chicago, Houston, Las Vegas, Los Angeles, Miami, New York NY, San Francisco and Washington DC, and attacks involving chemical and biological terrorism, cyber terrorism, hoax or threat of terrorism and nuclear attacks.