Optio Group, the specialty MGA, today announces 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, a large, U.S. based, A-rated carrier called AM First Insurance Company is 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.
Tom Kennett, UK head of political violence and terrorism, Optio said: “I am extremely pleased to announce that we have successfully secured capacity on an exclusive basis to underwrite PVT risks. We look forward to working with our new insurer partner in bringing much-needed new capacity to the PVT market at a time of pronounced geopolitical uncertainty.”