BOSTON , February 26, 2024 /PRNewswire/ — AXA XL's U.S. mid-market insurance business is expanding its general liability coverage for midsize businesses with its new expanded XL Plus endorsement that offers more than two dozen expanded protections.
According Chris Fallonhead of analytics and products for the US midmarket, “Unexpected events – an on-site injury, a contract dispute, a costly lawsuit – impact businesses of all sizes. That's why we continually review our coverage to make sure it adequately addresses ongoing issues. “The changing risks our midsize customers face. By including increasingly broader support, our midsize customers can enjoy a more comprehensive insurance package, reducing potential gaps in coverage and improving their financial protection against a broader range of risks.” “.
The XL Plus endorsement expands the scope and depth of coverage and expands the range of protections, covering additional risks that are not included in the base policy. Expanded protections include coverage for:
- Damage to premises rented to medium-sized companies due to various risks
- Automatic additional insured status when required by a contract or written agreement
- General Additional Insured Contracts for Administrators or Lessors of Premises, Lessor of Leased Equipment, Mortgagee, Assignee or Trustee, vendors, state or government agency, among others.
- Expanding bodily injury coverage to include mental anguish.
AXA XL's mid-market team is actively developing AXA XL's mid-market client-specific offering in the US, leveraging its strength in underwriting, data, claims handling and global capabilities. The team currently underwrites private equity and general industry insurance businesses and is building a dedicated underwriting team to address the insurance needs of mid-sized construction companies.
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ABOUT AXA XL
AXA XL offers insurance and risk management products and services from medium-sized companies to large multinationals, and reinsurance solutions for insurance companies worldwide. We partner with those who move the world forward. For more information, visit www.axaxl.com
ABOUT AXA XL INSURANCE
AXA XL Insurance offers property, casualty, professional, financial lines and specialty insurance solutions from mid-sized businesses to large multinationals globally. We partner with those who move the world forward. For more information, visit www.axaxl.com
SOURCE AXA XL
