It was only in May when specialist managing general agent Ensurance UK launched its terrorism and sabotage proposition and already the Lloyd’s coverholder is expanding into two other markets.
The MGA, a wholly-owned subsidiary of Milsons Point-based Ensurance Ltd, has announced the rollout of the offering to Australia and the US. The move comes following their success so far in Britain.
“The response we’ve received from brokers since launching our terrorism and sabotage offering to the UK property market has been considerable,” noted Ensurance UK chief executive Tim James (pictured).
“This has enabled us to bring forward our plans to expand our product to the US and Australia where we’ve identified a similar challenge in terms of a lack of existing facilities that provide the required extensions of cover.”
Backed by ‘A (Excellent)’ rated Company and Lloyd’s market capacity, the products offer full terrorism and sabotage cover for businesses as well as a range of policy extensions such as non-damage business interruption, denial of access, and loss of attraction.
“We hope to replicate the early success our terrorism and sabotage underwriting team has achieved in the UK as we continue to grow the range and geographic reach of our book,” said the CEO.