NAS Insurance Services Introduces Regulatory Business Interruption Ebola Coverage
NAS Insurance Services, a leading underwriting manager of specialty insurance, in conjunction with Prospect Insurance Brokers Ltd and Ark Specialty Programs of Lloyd’s of London, today introduced a new insurance program for businesses facing the possibility of government-mandated closure due to the presence of the Ebola disease.
“We recognize that businesses face a significant threat if a staff member, visitor, client or patient tests positive for Ebola,” remarks Richard Robin, CEO of NAS Insurance. “The premises may be closed by the Center for Disease Control or other relevant State or Federal Authority. The direct and indirect costs of this are not covered by any current insurance and the business could suffer a severe uninsured loss and even face bankruptcy if they are not allowed to reopen.’
‘The individual treatment costs of Ebola will normally be met by the medical and/or travel insurance of the individual or his/her company which is a market well served,’ says Prospect Director Jamie Webb, ‘but what is new is the threat that a business can be shut down by regulatory authorities due to the presence of communicable disease on the premises.’
‘Hospitals, hotels, airports, shopping centers, restaurants, theaters, gyms and any place the public may congregate including apartments and habitational units are probably most at risk,’ commented Richard Bryant of Ark Syndicate.
NAS is a full-service specialty insurance underwriting manager that provides product development, underwriting, marketing, risk management, and claims handling. NAS insurance products and programs are distributed through brokers and as tailored solutions for partner insurance carriers.
For more information about the Regulatory Business Interruption Ebola coverage and all of our specialty insurance solutions, contact:
NAS Senior Vice President of Marketing