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Expanded Perils

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In the Middle East, in Egypt, in Tunisia, in Libya, during the Arab Spring of this year, a wave of revolutionary activity drew the eyes and ears of the world. In insurance, such activities beg an important question: What do clients with insurable assets in countries undergoing violent change need to know? For one, they need to know the difference between war, terrorism and political violence. But most importantly, they need to know their policies, says Robert Cruz, vice president of war, terrorism and political violence for Bermuda-based Hiscox USA. Cruz' mission is to get his brokers and their clients in the Middle East, and even in Europe, to understand the full scope of "the expanded perils" that overseas operations can face. The right coverage can protect assets should any number of a host of unthinkable events unfold, such as insurrection, coup d'état, mutiny, revolution. Bottom-line: Companies with international operations need to be sure they're buying the right coverage.

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