As British businesses increasingly seek growth opportunities in politically volatile regions of the world, Beazley has moved to make its market leading political violence cover, developed at Lloyd's, available across the UK.
The cover provides businesses with a tool to mitigate and manage the risks arising from political upheaval that can adversely affect a company’s assets – whether overseas investments or trading operations. The policy provides companies with comprehensive coverage against all politically motivated attacks, whether ideological or religious.
Chris Parker, head of Beazley’s political violence and terrorism underwriting team, said:
"With more and more UK-based companies seeking to grow their business by exporting goods and services to new and emerging markets, many are becoming exposed to the risks that can result from a rapid political change and upheaval. This year’s events in Egypt vividly demonstrate how fast the political situation can deteriorate, and businesses with large contracts and investments face a very significant risk.
"We know that brokers who are working with insureds outside London are increasingly being asked to provide this type of specialist cover, and are looking to work with a trusted partner who has the expertise and experience in this area. As a leading underwriter in the Lloyd’s market, it was a natural next step for us to extend our offering to the regional market."
Brokers will be able to access this cover through Beazley’s network of UK offices in Birmingham, Ipswich, Leeds and Manchester.