Norway-based marine insurer Skuld Lloyd’s syndicate has launched a new unit to provide physical damage and liability cover for ports and terminals across the globe.

Scheduled to be written from 1 January 2013, the new product will be offered throughout Skuld’s existing international network of offices and brokers.

In addition to underwriting an array of physical damage and liability business, Skuld 1897 will offer the combined product specifically to meet the ports and terminals industry requirements.

The firm has also appointed Tom Graham and Chris Haines as property underwriters, who come with four years of experience in port and terminal property in the London market.

Syndicate 1897’s marine and energy liability underwriter Richard Rea said that the new cover launch with physical damage underwriting capability is a part of Skuld’s plan to expand beyond long-standing liability heritage.