Accordium will target international SME and mid-market clients with up to $1bn of total insured values through a single London market policy
Price Forbes has launched Accordium, a London market facility offering to combine property, stock throughput and terrorism cover within a single policy.
The broker said the facility is the first of its kind to integrate all three classes within one placement.
Accordium will be available internationally across a range of sectors and will target SME and mid-market businesses with total insured values of up to $1bn.
The facility is led by Lloyd’s insurer Brit and supported by exclusive automated follow capacity.
Price Forbes said Accordium was developed in response to demand for integrated all-risks cover.
The broker said it is designed to reduce duplication and coverage gaps that can arise when clients use multiple standalone policies.
The facility also offers bespoke wordings and class-specific pricing.
Post-loss features include a joint deductible structure and stock-loss driven business interruption cover, aimed at providing greater certainty around recoveries and protecting against income losses linked to stock damage.
Ash Ganesan, deputy CEO of cargo at Price Forbes, said: “As a genuinely integrated solution, Accordium is incredibly efficient, yet its main objective is to eliminate the issues clients commonly encounter with multiple standalone programmes.
“Combining specialist property, cargo and terrorism expertise in partnership with Brit and select follow markets, Accordium delivers broader protection and enhanced certainty when clients need it most,” he added.
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