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Expansion of General Liability Coverage in AXA XL’s U.S. Mid-Market Insurance Business

Byeditor

Apr 4, 2024

AXA XL’s U.S. Mid-Market insurance business has introduced a new XL Plus broadening endorsement to extend its general liability coverage for mid-sized businesses. This endorsement provides more than two dozen expanded protections to help businesses mitigate risks. The XL Plus endorsement enhances the coverage of the base policy by including additional risks that are not typically covered. Some of the expanded protections offered include coverage for damage to rented premises, automatic additional insured status, blanket additional insured agreements, and extension of bodily injury coverage to include mental anguish.

Chris Fallon, head of U.S. Mid-Market Product & Analytics at AXA XL, highlighted the importance of adapting coverage to meet the evolving risks faced by mid-size clients. He emphasized the need for comprehensive insurance packages to reduce gaps in coverage and enhance financial protection against a broader range of risks. The Mid-Market team at AXA XL is taking steps to develop a targeted offering for mid-market clients in the U.S., with a focus on underwriting private equity and general industry insurance business. The team is also working on building a dedicated underwriting team to address the insurance needs of mid-sized construction businesses.

This initiative by AXA XL demonstrates a commitment to providing tailored insurance solutions to meet the specific needs of mid-market businesses in the U.S. The XL Plus broadening endorsement offers valuable expanded protections that can help businesses navigate unexpected events and mitigate potential risks. By continuously reviewing and enhancing coverage offerings, AXA XL aims to provide mid-size clients with the comprehensive insurance packages they need to protect their financial interests and ensure business continuity.

By editor

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