Rokstone, the international speciality re/insurance MGA and part of the Aventum Group, has announced the launch of a new terrorism facility in the UK.
It follows the launch of a similar terrorism product in the US earlier this year, and will be made available to brokers through iSure, the group’s digital distribution platform.
Alongside the launch, Rebecca Steel, Portfolio Manager, Political Violence & Terrorism, has been recruited by Rokstone to lead its international Political & Terrorism Division.
Steel joined Rokstone in February this year with more than 32 years’ experience specialising in underwriting political violence and terrorism risks, based both in the UK and in the US.
She spent 14 years at AXA RE, followed by 8 years with AON in the US, and was later Vice President at Cooper Gay NYC before becoming Head of Property & Terrorism for Omnyy (part of Lockton) and latterly Lead Underwriter for Terrorism at Ensurance.
“Political violence and terrorism is an ongoing daily threat and brokers have a responsibility to make their clients aware of the risks and the protection available,” said Steel. “Compared to other countries, the UK has a very high-risk profile – higher than Russia for example. And it’s not just about ISIS; right wing activism is one of the biggest risks in the UK right now.”
“At Rokstone we’ve created tiered products that cater for the most relevant risks. Targets don’t have to be the preserve of travel hubs, big hotels or national monuments, and it’s not all about property risk and business loss – our policies uniquely protect the people too, with emphasis on rehabilitation,” Steel continued.
“Our specialist knowledge, use of technology and approach to underwriting means we can provide broader, more relevant cover, that’s more competitive and quicker to secure. We’re delighted to have such strong capacity for our product – testament to the confidence that carriers have in our expertise and knowledge of this market and the digital play we are embarking on.”
Dean Pitts, Chief Underwriting Officer at Rokstone, also commented: “We’re delighted to launch this new facility. Terrorism and political violence are threats that continue to pervade our society at every level, and it is a global challenge that brokers can help their clients to navigate. Becky is one of the leading and most experienced underwriters in this area and we’re delighted that she has joined us.”
