XL offers insurance for risks from chemical, nuclear and other weapons
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XL Group P.L.C. has launched a liability insurance product covering chemical, biological, radiological and nuclear weapons events.
The policy offers limits of up to $25 million and is sold through XL’s Lloyd’s of London syndicate 1209, a spokeswoman for XL said.
The policy, which aims to address the potential damage and interruption to businesses by chemical, biological, radiological and nuclear weapons, is triggered if the act is committed with malicious intent, regardless of who committed it, according to a statement released Wednesday.
Further, the policy covers affected customers regardless of their distance from the site of the attack, according to the statement.
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