New Lloyd’s consortium to pool focus on political violence and terrorism business, including war risk and civil unrest.
A new Aegis London-led Lloyd’s consortium is offering a solution for complex political violence risks with limits up to $100m.
Its launch enables Aegis London to offer 100% share of risk and increase its per policy capacity from $60m up to $100m.
AEGIS London’s political violence consortium offers cover for the full spectrum of political violence and terrorism perils, including sabotage, strikes, riots and civil commotion (SRCC), insurrection, revolution, war, and civil war.
The Lloyd’s underwriter said cover is available across a range of sectors including retail, industrial, leisure, financial, logistics, transport, and construction.
James MacDonald, war and terrorism class underwriter at Aegis London said: “We are delighted to launch this new and compelling offering, enabling our valued brokers and clients to efficiently secure comprehensive political violence coverage through this 100% solution.”
MacDonald added: “With heightened tensions and a plethora of geopolitical stressors increasingly prevalent across the globe, we see growing interest from a range of industries to secure new political violence and terrorism (PVT) insurance, along with augmented appetite from existing insureds to expand their policy limits and coverage options.
“The new Aegis London political violence consortium can therefore ably cater for the emerging needs of these clients as they seek to secure or expand political violence coverage.”
Matthew Yeldham, chief underwriting officer, Aegis London, said: “Our political violence and terrorism underwriting team is highly regarded in the market, and this product will make a real difference to businesses around the world seeking the necessary breadth of coverage and policy limits to secure their businesses against PVT losses.
“We are proud to have built this consortium,” he added.
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