Evolin launches Chaucer-led terrorism facility underwritten at Lloyd’s
London market wholesale insurance broker Evolin Broking (formerly known as GAWS of London) has launched a new terrorism facility, led by global specialty re/insurer Chaucer and underwritten at Lloyd’s of London.
The facility, Assailant Protect, has up to $500 million limit per policy for terrorism and can include various optional coverages. It also has an active assailant product which has embedded non-insurance elements, written 100 percent by Chaucer.
Through its Lloyd’s coverholder status, Evolin will be able to bind in scope risks immediately, benefitting from Lloyd’s global licensing permissions and allowing it to bind risks with global exposures.
Separately, Evolin has also placed a new cyber facility, Cyber Secure, targeting SME and mid-sized clients with revenues of up to $100 million. The facility has a $5 million policy limit. The capacity is provided by a large Lloyd’s insurer, which Evolin did not disclose.
Warren Campbell, head of portfolio solutions, Evolin, said: “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.”
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