Insurance Giant Offers Policies to Cover Organized Crime in Mexico Reuters
go to original May 14, 2013

MEXICO CITY - The Mexican unit of insurer Marsh & McClennan Companies Inc said on Monday it is launching a policy that will cover terrorism, organized crime and sabotage, the first such policy available in a country wracked by drug-related violence.

Mexico’s ongoing battle with drug cartels has not often directly affected companies, but Marsh designed the policy in response to requests from existing clients, said Julian Abraham, Marsh’s deputy head in Mexico.

“Customers have asked whether damages caused by organized crime are covered under their property insurance or terrorism insurance and we found that there’s a gray area and it’s not clear,” he said in an interview.

The new policy, launched in January to some clients, will cover up to $25 million (U.S.) of losses or damage related to terrorism, sabotage, organized criminal activity, violence between government and criminal organizations, or violence between criminal gangs.

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