War/terror coverage for Middle Eastern risks
A joint initiative has been launched by Liberty International Underwriters (LIU) and Liberty Syndicates to provide coverage for war and terrorism in the Middle East.
The product will be distributed by LIU via its Middle Eastern brokers, with customer service offered by its Dubai International Financial Centre regional office.
Liberty Syndicates will provide enhanced reinsurance capacity and expertise from London.
Naturally, the Arab Spring and crackdown from certain regimes in the Middle East and North Africa has raised concerns regarding regional instability.
In a number of locations banks require back-to-back coverage as a prerequisite for financial support.
Eli Bouchaaya, MENA regional manager for LIU, stated that the firm was pleased to be supported by the underwriting expertise of the group’s Lloyd’s syndicate and said that the firm had worked to hard to ensure the product was provided by a rapid and seamless service.
The BBC has reported today that tens of thousands continue to protest against the Syrian Government, defying the military crackdown upon which the regime has embarked.
Category: Insurance News, Liberty Syndicates News
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