9 October 2013Re/insurance

Ironshore ramps up global terrorism capacity

Ironshore’s Lloyd’s syndicate, Pembroke, has increased its global terrorism and sabotage capacity to $300 million.

Ironshore indicated that its terrorism and sabotage product will provide coverage for property damage and business interruption. Coverage can also be extended to strikes, riots, civil commotion and losses associated with malicious damage, said Pembroke.

The coverage is distinct from coverage provided by the Terrorism Risk Insurance Program Reauthorization Act in the US and has a global footprint.