Mint Canadian Specialty Underwriters has launched a new product designed to protect small Canadian businesses from government-mandated business interruption due to a contagion such as Avian Flu.
The Canadian niche insurer, a subsidiary of London-based Markel Corporation, writes business through Lloyd's.
Demand for business interruption cover has soared due to the recent cases of Avian Flu reported in the worldwide media, said company spokeswoman Derah McCall.
Mint Canadian Specialty's new product provides protection for small-to-midsized Canadian companies within the food service and medical industries.
Barrett Hubbard, managing director, Mint Canadian Specialty Underwriters, said current Canadian insurance products do not provide protection against the potential for loss resulting from quarantine or closure of business premises due to contagions such as SARS and Avian Flu.
“Our new product gives Canadian businesses the option of cushioning the economic blow that business interruption would cause,” he said.
Ms. McCall said coverage would be triggered when a business is specifically ordered to shut down by a public health official or another independent third party due to a covered contagion.
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