ARCH UK REGIONAL DIVISION LAUNCHES EXPANDED TERRORISM INSURANCE SOLUTION AVAILABLE VIA NEW PORTAL
Launch follows appointment of Jason Whiddett as Head of Terrorism, UK Regions
London, 9 May 2024 — Arch Insurance UK Regional Division has today announced the launch of its enhanced standalone terrorism insurance product for businesses across the UK regions which is available via its new broker portal.
The expanded terrorism insurance solution includes a series of extensions and benefits available as standard. Key policy features include prevention of access, loss of attraction, threat or hoax, and brand rehabilitation. Coverage is available for all areas of the UK and for a wide range of companies including retail and commercial offices, property owners, social housing, hospitals, and government assets.
New optional extensions to the cover include Nuclear, Chemical, Biological and Radiological (NCBR) and terrorism liability. In addition, Arch has increased its policy sub-limits, while its terrorism insurance team is able to develop tailored solutions and offer flexible policy limits.
The comprehensive cover is available via Arch’s new terrorism insurance portal. The digital placement facility enables brokers to generate quotations based on a concise series of questions within minutes and instantly bind the risk. The system is supported by an experienced digital underwriting team available to ensure a seamless process for more complex risks.
The launch follows the recent appointment of Jason Whiddett as Head of Terrorism, UK Regions. Whiddett brings over 20 years of experience in the UK terrorism insurance market to the role as both an underwriter and a broker. He joined Arch from Angel Risk Management where he was most recently a Terrorism Class Underwriter.
Commenting on the launch, Whiddett said: “I am delighted to be joining Arch at a point where we are introducing a new level of terrorism insurance cover to the UK SME market. We have designed the policy to be as clear as possible, so customers have a full understanding of the scope of coverage. Further, our new terrorism portal provides our brokers with a highly efficient and effective means of securing cover while still being able to access our experienced underwriters for more complex coverage requirements.”
Mike Bottle, Senior Vice President, Strategy & Distribution, UK Regional Division, added: “This week’s announcement forms part of our ongoing work to offer specialty insurance solutions to the UK regions. As Head of Terrorism for UK Regions, our brokers have access to Jason’s extensive knowledge of the UK terrorism insurance market, while by making our expanded coverage available via our new portal we are enabling them to trade the way they want to trade – either digitally or with our empowered underwriters.”
TAGS / KEYWORDS
Arch Insurance, UK Regional Division, insurance, appointment, terrorism, Jason Whiddett, Mike Bottle
EDITOR’S NOTES
About Arch Insurance (UK) Limited.
Arch Insurance (UK) Limited is part of Arch Insurance International and provides specialised commercial property, casualty, motor, professional liability, personal accident and travel insurance solutions through its extended office network across the UK.
Arch Insurance (UK) Limited is authorised and regulated by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.
About Arch Insurance International
Arch Insurance International is part of Arch Capital Group Ltd. and includes Arch Insurance UK and the P&C insurance operations of Arch Insurance (EU) dac, as well as Arch’s insurance operations in Europe, Bermuda and Australia.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $22.1 billion in capital at March 31, 2024, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect the Company’s current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.
Forward−looking statements can generally be identified by the use of forward−looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or their negative or variations or similar terminology. Forward−looking statements involve the Company’s current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the our gross and net exposures; the failure of others to meet their obligations to the Company; a disruption caused by cyber-attacks or other technology breaches or failures on the Company or the Company’s business partners and service providers, which could negatively impact the Company’s business and/or expose the Company to litigation; and other factors identified in our filings with the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on the Company’s behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.
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Source: Arch Insurance (UK) Limited
Media Contacts
Patrick Palmer
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M +44 7900 743664
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