Brit launches new marine war consortium

Brit has created a consortium writing marine war and breach call risks. Keel offers up to US$152.2m of capacity per risk and provides instant quotes that are fully sanctions screened.

Hundreds of thousands of trips are made each year into high-risk areas excluded from annual war risks protection, with breach calls required to provide cover in a traditionally time-consuming placement process. Keel’s new trading platform now promises brokers a single interaction to place breach calls for vessels in seconds, and around the clock.

Gary Brice, head of marine and space at Brit, commented: “The insurance industry’s placement of breach call risks has historically been an onerous and time-consuming process. Through our Keel consortium, Brit is aiming to directly address this, delivering a solution that enables the placement of risks in seconds, not minutes, or days, as is currently the norm. We are delighted to have created Keel, and believe it’s easy to use platform and the technology that sits behind this will help expedite and enhance the writing of marine war breach call risks.”

    Share Story:

YOU MIGHT ALSO LIKE


Cyber physical risks
Property damage as a consequence of cyber attack is often excluded from standard property policies, but as the industrial internet of things expands, so too do the risks. This podcast examines the evolving threat landscape. Published October 2021

Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks. Published June 2021