Talbot launches Lloyd’s consortium for terrorism

Talbot Underwriting, a wholly-owned subsidiary of Validus Holdings, has launched a Lloyd’s consortium for nuclear, biological, chemical and radiological (NBCR) terrorism.

The facility allows brokers to fully bind through one underwriter, with Talbot as the leader member.

Capacity for this Talbot-led consortium has also been provided by Ariel Re, AXIS, Barbican, Brit, and Liberty Specialty Markets.

NBCR risks will be written up to $50 million, offering cover for property damage, business interruption, and liability.

Steven Tebbutt, global practice leader for political violence at Talbot, commented: “The increasing risk of NBCR terrorist attacks is driving demand for cover across the market.

“It is important that insurers can offer clients cover against a wide range of political violence perils. The significant limit offered through the consortium will give meaningful cover against the losses businesses could incur in such an event.”