Willis launches $200m cargo cover with Markel for war risk

The facility offers tailored coverage through a single policy.

Willis, a WTW business, has launched “Undercover”, a $200m insurance facility developed with Markel to protect cargo owners from geopolitical risks including war on land, terrorism, political violence, and confiscation.

The facility offers tailored coverage through a single policy, reducing gaps and simplifying claims by removing the need to determine the cause of loss.

It also shields cargo owners from fluctuating insurance costs tied to shifting country risk ratings.

“In a period of heightened geopolitical risk, cargo owners face enormous uncertainty in fast changing situations. This innovative solution is the first that offers a clear, comprehensive approach to cover, offering the maximum certainty exactly when it’s needed and when the worst happens,” said Ben Abraham, Global CEO of Willis Marine.