Allianz Global Corporate & Specialty (AGCS), the corporate insurer of the Allianz Group, provides stand-alone terrorism cover for international companies' overseas risks. Two new experts will develop and expand insurance products in this area: Björn Reußwig, Executive Underwriter Terrorism, is responsible for underwriting European terror risks and coordinates activities in this field globally. Srdjan Todorovic is Head of Terrorism Regional Unit London, responsible for UK, Ireland, the Middle East, Australia and New Zealand. AGCS plans to increase underwriting capacity for terrorism insurance in the USA and Singapore over the course of the year.
Reußwig and Todorovic report to Christof Bentele, Head of Global Crisis Management at AGCS. Since the start of 2015 Bentele has been expanding the Crisis Management department within the Global Liability line of AGCS, bundling activities relating to political risks, terrorism and political violence or product recall and contamination.
With immediate effect, AGCS will be able to offer industrial customers stand-alone cover against terrorism and political unrest for their overseas locations. Global risks are excluded from national pool solutions, such as Extremus in Germany or Gareat in France. "Whether unrest, terrorism or war: political violence has returned to companies' risk maps over the past few years with unimaginable force. Companies want to better protect their employees, their business, and their assets. Our new products and our global network allow us to safeguard our customers against the effects of politically motivated violence in almost all countries around the world," explains Michael Hohmann, Global Head of Liability, AGCS.