General Insurance Article - Political Risk, Violence and Terrorism policy launched


WeSpecialty announces the launch of “Political Violence - Terrorism - Political Risks” cover in response to client needs.

 This innovative launch comes at a time when the market has witnessed the dramatic return of political and terrorist risks to the forefront of the international scene and the withdrawal of some of the traditional war-risk insurance players.

 Called Canopy, it combines in a simple, comprehensive and modular product the whole breadth of political violence, terrorism and political risk covers previously available in separate products across London and continental European insurance markets.

 Canopy is aimed at manufacturers and commodity traders and, more generally, any international company operating in sensitive areas, who wish to protect their interests and mobile or fixed assets (goods or warehouses, production units, plant and machinery, stocks and offices) against the consequences of a political peril. Protection includes the risks of confiscation, nationalisation, expropriation and deprivation.

 Canopy is a product developed in partnership with Hiscox, a benchmark player on the world specialty market. Other major insurers are expected to strengthen this partnership in the months to come.

 Patrick de la Morinerie, chairman of WeSpecialty, says, "WeSpecialty, whose desire is to take a fresh look at complex risks, offers Canopy as a total response to the growing needs of businesses operating in certain unstable regions or in low-security environments."
  

Back to Index


Similar News to this Story

Global insured losses from disasters were $54bn in 2016
The latest sigma study from the Swiss Re Institute reveals that Global insured losses from disasters were USD 54 billion in 2016, up from USD 38 billi
Cyber attack prevention for all at sea
David Thompson, Investigator at UKP&I Club’s Signum Services consultancy arm at UK P&I Club, highlights the importance of cyber security at sea
LMA issues new guidelines as IBER lapses
The European Commission is allowing the Insurance Block Exemption Regulation (IBER) to lapse on 31 March. This regulation gave the industry a safe har

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.