Intrepid Announces Increased Terrorism Capacity
March 30, 2010
Intrepid Risk Solutions today announced that it has arranged an increase in the capacity of its Homeland One Property Terrorism Insurance facility to $350 million. “With this increase, Intrepid now offers the largest single tranche of property terrorism capacity in the industry” said James Rich, an Intrepid principal.
The Homeland One product is a Lloyd’s-backed facility with terms that are significantly broader than those of typical London market forms. The Homeland One form includes valuable coverage extensions in the areas of Fire Following, Business Interruption, Extra Expense, Demolition & Increased Cost of Construction, Leasehold interest, Accounts Receivable and Control of Damaged Merchandise.
The Homeland One facility can be used as insurance or reinsurance and is available on a Primary, Excess-of-Loss or Pro-Rata basis.
Product details are as follows:
- Coverage: Property Terrorism Insurance or Reinsurance including Time Element
and Fire Following - Capacity: $350 million with additional capacity available
- Policy Form: The broad Homeland One policy is used for insurance placements,
and for reinsurance the facility follows form with the original property policy - Market: Lloyd’s Markets
- Security:
- Lloyd’s Security
- M Best: A (Excellent) Stable Outlook
- Fitch Ratings: A+ (Strong) Stable Outlook
- Standard & Poor’s: A+ (Strong) Stable Outlook
- Availability: Worldwide
Intrepid Risk Solutions is the trade name for Intrepid Brokerage Services LLC, a United
States-based firm with headquarters in Andover, New Jersey. Intrepid is a licensed P&C
broker with surplus lines and reinsurance authority. Intrepid conducts business as a
wholesale insurance/reinsurance broker and underwriting manager.
Consulting services are also available upon request.
Contact Principals Jim Rich at 973-398-0176 (jrich@intrepid-risksolutions.com) or Bob Olsman at 215-591-0401 (rcols@comcast.net).