Geo Specialty, a division of UK managing general agent (MGA) Geo Underwriting, has launched a new online quote and bind platform for its comprehensive terrorism solution.
The firm states that the new product offers bespoke political violence protection that provides quick, efficient and competitive terms, alongside access to limits of up to £115 million per property in the UK. According to Geo Specialty, the new system enables quote, bind and policy issuance to be completed at the click of a button.
Limit sizes are accompanied by a coverage suite that includes non-damage denial of access and also loss of attraction, as well as looting post loss and protection to include the insured supply chain.
Geo Specialty states that its new solution offers an effective way for companies across the UK to respond to the growing and evolving terror threat, by delivering a fast and easy to navigate online insurance solution.
Senior Underwriter, Geo Specialty Political Violence, Marcus Meredith, said: “By building an e-insurance solution that gives immediate access to our Terrorism product in the UK, we are responding to the developing terror threat that businesses face.
“As the threat of both political and religious extremes, as well as “self-radicalised” fanatics using vehicles and other rudimentary weaponry, increases, brokers and clients need a faster and more responsive way to access the relevant terrorism cover they need. That is what our e-insurance initiative delivers.”