Price Forbes, a specialist insurance and reinsurance broker, has announced the launch of Accordium, the first integrated London market facility to combine property, stock throughput and terrorism cover under a single policy.
Accordium will target SME and mid-market businesses with total insured values of up to $1 billion and will be available internationally across a range of sectors.
The facility is led by Lloyd’s insurer Brit and supported by exclusive automated follow capacity.
Designed to meet growing broker and client demand for integrated all-risks cover, Accordium aims to enhance placement efficiency while reducing the risk of duplication and coverage gaps associated with multiple policies. Bespoke wordings also allow for tailored coverage and class-specific rates.
The facility also offers greater post-loss financial certainty through a joint deductible structure and stock-loss driven business interruption coverage. This is designed to maximise recoveries and protect against stock-related income losses that many traditional property programmes fail to address.
Ash Ganesan, deputy CEO of cargo at Price Forbes, said, “As a genuinely integrated solution, Accordium is incredibly efficient, yet its main objective is to eliminate the issues clients commonly encounter with multiple standalone programmes. Combining specialist property, cargo and terrorism expertise in partnership with Brit and select follow markets, Accordium delivers broader protection and enhanced certainty when clients need it most.”
