Optio Group, the London-based specialty managing general agent (MGA), announced it has entered into an agreement with a new insurer partner to provide underwriting capacity for political violence and terrorism (PVT) risks.
The partner company – AmFirst Insurance Co. (AmFirst) – is a large, U.S.-based, A-rated carrier, well known for its property/casualty and medical areas of specialism. It will provide capacity to the PVT market for the first time exclusively via Optio, enabling Optio underwriters to accept PVT risks internationally, excluding the U.S.
The capacity will be used in conjunction with Optio’s recently developed digital rating tool, which enables real-time, data-driven underwriting of PVT risks, providing greatly enhanced efficiency and service for brokers and insureds.
“I am extremely pleased to announce that we have successfully secured capacity on an exclusive basis to underwrite PVT risks,” commented Tom Kennett, UK head of political violence and terrorism, Optio. “We look forward to working with our new insurer partner AmFirst in bringing much-needed new capacity to the PVT market at a time of pronounced geopolitical uncertainty.”
Source: Optio Group
Topics Catastrophe Natural Disasters Carriers Insurance Wholesale
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