Evolin launches new terrorism facility led by Chaucer

London market wholesale insurance broker Evolin Broking has launched a new terrorism facility, Assailant Protect, underwritten at Lloyd’s of London and led by global specialty (re)insurance group, Chaucer.

As per Evolin, the facility has up to a $500 million limit per policy for terrorism and can include various optional coverages. It additionally has an active assailant product which has embedded non-insurance elements, written 100% by Chaucer.

Evolin explained that through its Lloyd’s coverholder status, the firm will be able to bind in-scope risks immediately, benefitting from Lloyd’s global licensing permissions, allowing it to bind risks with global exposures.

At the same time, Evolin has also placed a new cyber facility, Cyber Secure, targeting SME and mid-sized clients with revenues of up to $100 million. This facility has a $5 million policy limit, with capacity reportedly provided by another large Lloyd’s Insurer.

Warren Campbell, head of portfolio solutions at Evolin, commented, “These facilities are an example of Evolin’s altruistic strategy of evolving with our clients’ needs.

“We have the structure and subject matter expertise to produce innovative products which increase market efficiency and client satisfaction. We look forward to working with Chaucer and the supporting markets to fulfil our clients’ needs.”

Elizabeth Heslip, Class Underwriter in the Political Violence and Crisis Management team at Chaucer, added, “We are delighted to partner with Warren and the team at Evolin to provide leading capacity for this new facility.

“As a leader in Political Violence, we are confident that by combining our expertise with Evolin’s strong presence in the market, this facility will grow successfully.”

The post Evolin launches new terrorism facility led by Chaucer appeared first on ReinsuranceNe.ws.

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