BOSTON , Feb. 26, 2024 /PRNewswire/ — AXA XL’s U.S. Mid-Market insurance business is extending its general liability coverage for mid-size businesses with its new XL Plus broadening endorsement offering more than two dozen expanded protections.
According to Chris Fallon, Head of U.S. Mid-Market Product & Analytics, “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. 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.”
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-size 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.
AXA XL’s Mid-Market team is actively building out AXA XL’s targeted mid-market client offering in the U.S., leveraging its strength in underwriting, data, claims handling and global capabilities. The team currently underwrites private equity and general industry insurance business and is building a dedicated underwriting team to address mid-size construction businesses’ insurance needs.
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ABOUT AXA XL
AXA XL provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com
ABOUT AXA XL INSURANCE
AXA XL Insurance offers property, casualty, professional, financial lines and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com
SOURCE AXA XL
