Specialty insurer Brit Group Holdings launched BRIDGE, a new cargo consortium offering line capacity of up to $80mn. Brit says the facility will rank among the larger cargo consortia in the market.
The consortium is designed to meet a wider range of broker and client needs, with cover for cargo risks across global trade flows.
Jon Sullivan, Brit’s chief underwriting officer, said BRIDGE is the latest consortium launched by the group and another step in its core classes strategy. He said the added capacity should deepen the reach of Brit’s cargo proposition for brokers and their clients.
By bringing together significant capacity, BRIDGE will further deepen the relevance of our market-leading cargo offering for brokers and their clients.
Jon Sullivan, Brit’s chief underwriting officer
Louise Crockford, cargo class underwriter at Brit, said the consortium marks an important addition to the insurer’s cargo offering. She said BRIDGE will help Brit maintain a high level of cover as insured cargo values increase and supply chains become more complex.
The launch gives Brit more scale in a market where cargo values keep rising and supply chains keep getting messier. More moving parts, more exposure, more need for clean underwriting.
According to Beinsure analysts, bigger consortium structures give insurers a cleaner way to aggregate capacity in cargo, especially when clients want broader protection across more volatile trade routes and higher-value shipments.
Brit says BRIDGE will provide sophisticated and broad coverage for clients facing changing market conditions.
The aim is straightforward enough, more capacity, wider relevance, stronger support when cargo risks turn tricky.
The cargo launch follows Brit’s rollout of C360, a product built for small businesses dealing with a tougher and less predictable cyber risk market.
