Lloyd's has launched a new terrorism reinsurance solution for the Spanish multinational companies

29 September 2016 — Daniela GHETU
It has been presented on September 28, at the Lloyd's Iberia office in Madrid, the new Consortium for International Terrorism Risks, led by Markel and 100% based on of the Lloyd's market capacity. The consortium backed by up to 7 Lloyds syndicates.

Coverage includes damage, liability and loss of profits as a result of a terrorist attack. This consortium is intended for the risks of the Spanish multinational companies abroad and also complements the coverage in Spain not covered by the Insurance Compensation Consortium.

The automatically insured limit is of EUR 250 million, the largest capacity available today on the Spanish market. This limit can be extended following a case by case analysis of the risks to insure.

All the power granted by this consortium is the Lloyd's market and subject to financial market rating is (AA-) by Fitch, (A) by A.M. Best and (A +) by Standard & Poor's.

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