MEXICO CITY May 13 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 of losses or damage related to
terrorism, sabotage, organized criminal activity, violence
between government and criminal organizations, or violence
between criminal gangs.
"Since January we've had quite a few requests for pricing
and interest in contracting the coverage," Abraham said.
Marsh is now offering the policy more widely to external
Last year, warehouses and trucks belonging to PepsiCo Inc's
Sabritas brand in Guanajuato state were attacked by a
gang known as the Knights Templar, an offshoot of the La Familia
cartel in western Mexico.
Close to 70,000 people died in drug-related killings during
the six-year administration of former president Felipe Calderon.
Calderon launched a military offensive against the cartels
shortly after taking office in December 2006.
More than 5,000 people have died in the violence since
President Enrique Pena Nieto replaced him.
Pena Nieto has pledged to significantly reduce the killings,
but has yet to give details on his plans.