Arch Insurance UK Regional Division has launched an expanded terrorism insurance product for businesses across the UK regions. Made available through its new broker portal, the product will have a standard series of extensions and benefits.
Senior vice president, strategy & distribution, UK Regional Division Mike Bottle said that the announcement is part of its efforts in offering specialty insurance solutions to the UK regions.
Included in the key policy features of the expanded terrorism insurance solution are prevention of access, loss of attraction, threat or hoax, and brand rehabilitation. The coverage also has new optional extensions such as nuclear, chemical, biological, and radiological (NCBR) and terrorism liability. The policy sub-limits have also been increased as the firm’s terrorism insurance team develops tailored solutions and offers flexible limits to the policy.
The solution is available to businesses which include retail and commercial offices, property owners, social housing, hospitals, and government assets in all areas of the UK. It can be accessed through Arch’s new terrorism insurance portal. The digital placement facility allows brokers to generate quotations that are based on a series of questions within a few minutes and will instantly bind the risk. It is supported by a digital underwriting team.
Prior to the launch of the insurance solution, Jason Whiddett was appointed as the firm’s head of terrorism, UK regions. He has 20 years of experience in the UK terrorism insurance market as an underwriter and a broker.
“As head of terrorism for UK Regions, our brokers have access to Jason’s extensive knowledge of the UK terrorism insurance market, while by making our expanded coverage available via our new portal we are enabling them to trade the way they want to trade – either digitally or with our empowered underwriters,” said Bottle.
“I am delighted to be joining Arch at a point where we are introducing a new level of terrorism insurance cover to the UK SME market. We have designed the policy to be as clear as possible, so customers have a full understanding of the scope of coverage,” said Whiddett.
“Further, our new terrorism portal provides our brokers with a highly efficient and effective means of securing cover while still being able to access our experienced underwriters for more complex coverage requirements,” he added.
What are your thoughts on this story? Please feel free to share your comments below.
