Ironshore increases terrorism coverage
Bermuda's Ironshore has boosted its insurance capacity for terrorism and sabotage coverage to $400 million.
The increase is $25 million up on the previous $375 million available to clients.
Quentin Prebble, director of Pembroke Managing Agency Limited, said: “In today's increasingly uncertain world, acts of terrorism have impacted businesses worldwide.
“Terrorism coverage has now become an essential tool for our clients to protect against the devastation and financial loss that frequently follows terrorist attacks.
“Ironshore recognises that these events, including incidents of civil unrest, are on the rise and as a result we have increased the limit of cover that is available to our clients from a single source to $400 million.”
Ironshore's terrorism and sabotage cover provides insurance protection for clients against damage to commercial and residential property, including business interruption, resulting from terrorist attacks worldwide.
Coverage is provided on either a full value or first loss basis, and optional policy extensions can respond to loss due to malicious damage, strikes, riots and civil commotions.
Ironshore offers war and terrorism cover on a worldwide basis through its Lloyd's Pembroke Syndicate 4000 platform.