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Talbot Underwriting Services, a wholly-owned subsidiary of Validus Holdings, has launched a political risk binding authority from its New York office, with $115 million in capacity. 100% will be undertaken by various underwriters at Lloyd’s and led by Talbot Underwriting's Syndicate 1183.
The Talbot-led binding authority includes syndicates managed by the following organisations with experience in writing political risk: Ascot, Compo Canopius, CAN Hardy and Starstone. It will provide brokers and clients in the Americas with a one-stop shop to access political risk insurance capacity in the Lloyd’s market.