Willis launches $200m facility to tackle global geopolitical uncertainty for cargo owners

Core Insights - Willis has launched 'Undercover', a $200 million insurance facility aimed at addressing geopolitical risks faced by cargo owners globally [1][2] - The product offers tailored coverage for various risks including war, terrorism, political violence, and confiscation, minimizing coverage gaps and claims disputes [2][3] - Undercover provides certainty of coverage during political instability and protects against fluctuating insurance costs due to changing country risk ratings [3][4] Company Overview - WTW, the parent company of Willis, operates in 140 countries, providing data-driven solutions in people, risk, and capital [5] - Willis has a long history in marine insurance, with over 650 specialists in marine risk and insurance, including more than 200 cargo insurance experts [6] - Markel, a partner in this initiative, is a leading global specialty insurer known for its people-first approach and expertise in complex specialty insurance needs [7]