Ironshore Personal Lines has introduced a home and family security endorsement to its high value homeowner program to broaden coverage for losses arising from random attacks or situations impacting high net worth families.
Designed to meet the needs of high net worth individuals, the endorsement provides coverage in the event the insured (including family members) experiences a home invasion, carjacking, hijacking, kidnapping, child abduction, stalking, or bullying event, the company said. Should any such event occur, endorsement coverage also will include death and dismemberment benefits, Ironshore added.
Offered by Ironshore's personal lines unit, this enhanced coverage endorsement will be available to homeowners insured with primary coverage on properties valued at $1 million or more in select states nationwide.
“Recent news coverage has heightened awareness to the risk of high net worth individuals that are faced with sudden, unfortunate circumstances threatening their homes and families,” said Daniel Olmsted, the senior vice president of personal lines. “Such events as home invasion, carjacking of luxury vehicles, and trauma resulting from bullying incidents have created greater demand to protect all personal aspects of an insured's potential event exposure.”
The company said that endorsement coverage includes medical expenses, costs of added security to insured properties, well-being services, and lost salary, as well as deductible reimbursement related to property damage. Ironshore also is providing insureds with ancillary resources and access to information regarding preventive security measures.
Learn more: www.ironshore.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].