Consilium, the global specialty insurance and reinsurance wholesale broker, has announced that its Cargo Risk Solutions division has launched a stand-alone stock facility designed to deliver improved pricing, lower deductibles, and broader wordings that better reflect how clients and brokers do business.
In a market facing increased supply chain volatility and evolving warehousing and storage risks, Consilium’s stand-alone stock policy offers brokers and their clients greater flexibility and choice.
It allows brokers and their clients to purchase tailored coverage for inventory under its own policy, while also securing an option from their combined package policy.
The facility enables brokers to deliver something new and demonstrate added value through a clear understanding of when stock-only cover will be beneficial for their clients.
Developed in association with leading cargo syndicates and backed by $50 million in Lloyd’s capacity, the policy is particularly valuable for insureds operating in high-CAT zones, where access to greater catastrophe capacity for inventory is essential.
Jack Cooper, Senior Partner Cargo Risk Solutions at Consilium, commented, “Consilium’s Cargo Risk Solutions team is innovating the way inventory coverage is placed in Lloyd’s of London. Separating stock from traditional combined policies not only brings more choice for our producing brokers, but also ensures clients can secure coverage based on the exact risks they face. This launch represents another step in Consilium’s mission to bring smarter, more flexible specialty solutions to market.”
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