Talbot Underwriting Services, a subsidiary of Validus Holdings, has launched a political risk insurance binding authority from its New York office.
The Talbot-led binding authority includes syndicates managed by organisations with knowledge in writing political risks, such as: Ascot, Sompo Canopius, CAN Hardy, and Starstone.
It is expected to provide brokers and clients in the Americas with an access to political risk insurance capacity in the Lloyd’s market.
Talbot said that the combination of these experts in political risk insurance, along with the significant capacity available, will differentiate the facility and enable it to offer a high level of Lloyd’s political risk insurance capacity in the Americas. It can only be accessed through licensed brokers.
“This facility will play an important role in attracting more political risk insurance business to Lloyd's and provide us with the underwriting capacity to lead the largest projects,” said James Bamford, head of war, terrorism and political risk at Talbot.
“For our brokers and clients, substantial additional capacity from insurers that really understand their needs will undoubtedly be welcome.”
Talbot Underwriting Services, North America, Validus Holding, Bermuda, Insurance, Reinsurance, Political risk, Lloyd's, London, UK