Lloyd’s syndicate AEGIS London has doubled the capacity of its Digital Terrorism Product, SHIELD (Terror), from $250 million to $500 million, an increase that reflects the growing market demand for terrorism insurance solutions.
Backed by an AEGIS London-led consortium, the solution has been designed to meet the changing needs of US businesses and can be obtained through their surplus lines brokers.
The enhanced product, available through OPAL, AEGIS London’s digital quote-and-bind platform, is designed for larger organisations operating across multiple locations with significant exposure to terrorist risks.
By doubling the available line size, AEGIS London can now cater to the requirements of national enterprises in addition to the product’s original SME clients.
Calum Williams, Digital Development Manager at AEGIS London, said: “Our decision to expand SHIELD (Terror) with increased capacity and enhanced features reflects our commitment to staying ahead of evolving global terrorism risks and helps our customers have the coverage they need in an increasingly unpredictable world.
“In a time of heightened awareness around terrorism and active assailant threats, broadening our product’s scope and accessibility reinforces AEGIS London’s leadership in the US terrorism insurance market.”
In addition to the capacity increase, AEGIS London has updated the product’s Active Assailant sub-limit, raising it to $1million, this in response to growing insured demand for protection against shooting incidents across the US.
The company also introduced standardised sub-limits for Denial of Access and Loss of Attraction, with each policy now including $5 million in coverage or these exposures as a standard.
Denial of Access coverage mitigates losses resulting from restricted access to insured properties due to covered events, while loss of attraction addresses revenue impacts stemming from diminished foot traffic or visitor numbers.
Tom Squires, Head of Digital Trading at AEGIS London, concluded: “Expanding SHIELD (Terror)’s capacity to $500 million is a strategic move to meet the evolving needs of businesses facing complex terrorism risks.
“By enhancing our product’s accessibility and features, we’re reinforcing our commitment to innovation, digital trading, and helping clients have the robust protection they need in a volatile and uncertain environment.”
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