According to the London Credit Consortium – a partnership of Liberty Specialty Markets, Canopius and The Channel Syndicate which provides capacity to the platform – Toredo was used for its first risk in June and now has a developing pipeline of transactions.
The web-based platform for specialised trade credit insurance was launched earlier this year with the aim of bringing transparency, efficiency and security to the underwriting of short term non-payment insurance.
Chris Hall, consortium underwriter at Liberty Specialty Markets commented: “Undertaking our first transaction on the Toredo platform is the exciting culmination of a long development programme. We look forward to working with more brokers and clients to support them in their business requirements.
“With so much focus on electronic trading in the Lloyd’s market at the moment it is important for Liberty Specialty Markets and our consortium partners to embrace these developments. Toredo is a great example of technology that works and brings real efficiency to the market.”
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