Ironshore increases terror capacity to $400m

Bermuda-based Ironshore International has increased the capacity for its terrorism and sabotage offerings to $400 million from the current limit of $375 million, following the rise in such attacks worldwide.

The cover provides insurance protection against damage to commercial and residential property, including business interruption resulting from terrorist attacks worldwide.

"In today's increasingly uncertain world, acts of terrorism have impacted businesses worldwide. Terrorism coverage has now become an essential tool for our clients to protect against the devastation and financial loss that frequently follows terrorist attacks," said Quentin Prebble, director at Pembroke Managing Agency.

"Ironshore recognises that these events, including incidents of civil unrest, are on the rise and as a result we have increased the limit of cover that is available to our clients from a single source to $400 million."

Today’s top stories

Investment gains mask poor underlying performance at PartnerRe

Potential €400m surplus capital prompts SCOR to mull share buyback scheme

Insurance CFO fined over accounting hole

Profits dip at SCOR but life unit drives solid growth

AXIS poaches Beazley exec to lead London MGA growth

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.