AXA XL’s U.S. Mid-Market insurance business is introducing a new XL Plus broadening endorsement to enhance its general liability coverage for mid-sized businesses. The endorsement offers over two dozen expanded protections to help businesses mitigate risks, including 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, emphasized the importance of adapting coverage to meet the evolving risks faced by mid-size clients. He highlighted 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 developing a targeted offering for midmarket clients in the U.S., with a focus on underwriting private equity and general industry insurance business. Additionally, they are building a dedicated underwriting team to address the insurance needs of mid-sized construction businesses.
This initiative by AXA XL demonstrates their commitment to providing tailored insurance solutions that meet the specific needs of midmarket 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 midsize clients with comprehensive insurance packages that protect their financial interests and ensure business continuity.
In conclusion, AXA XL’s introduction of the XL Plus broadening endorsement is a positive step towards providing more comprehensive insurance coverage for mid-sized businesses in the U.S. This move shows that AXA XL understands the evolving risks faced by these businesses and is committed to providing tailored solutions that meet their specific needs. With this new offering, midmarket clients can have peace of mind knowing that they are protected against unexpected events and potential risks, which ultimately helps them achieve their financial goals and ensure business continuity.
