After years of global political instability and war, K2 Rubicon Specialty will be leading the insurance market’s response to supporting and re-building of war-torn regions around the world, notably Ukraine.
With limited (re)insurance capacity available for this ongoing crisis, K2 Rubicon have created the first dedicated import facility to a war-torn region. Sentinel is data-driven solution led by QBE and supported by a panel of Lloyd’s syndicates, combining capacity throughLloyd’s unique syndicated lead follow approach.
The K2 Rubicon Specialty team bring deep expertise in writing war risks having pioneered the market leading AsOne grain facility for Ukrainian exports in 2022. After Afghanistan and the second Iraq war the underwriters led the waron land market response in this region.
Sentinel integrates cutting-edge technology and intelligence:
· Altana AI provides exclusive access to a comprehensive supply chain model providing visibility to crucial import hubs.
· Insurwave’s technology monitors marine import accumulations in the Black Sea and maps the logistics routes being used for the inland movements.
· Mckenzie Intelligence services delivers satellite imagery which will support claims and real-time in-country risk assessment.
“This is just the beginning” said Gavin Wall, Managing Director of K2 Rubicon Specialty, “there is a clear need in other areas around the world where we can replicate this approach when the risk assessment and political situation allows.”
Chris McGill, Head of Cargo said “Sentinel has the largest deployable cargo war-on-land limit in Ukraine enabling their building efforts. We will expand deployable limit in Ukraine as the situation on the ground develops.”
Rachel Turk, Chief of Market Performance said: “It’s great to see Lloyd’s at the forefront of innovative market solutions that support post-conflict reconstruction. This initiative highlights the market’s unique ability to bring together syndicates to underwrite risks without reinsurance backing, harness third party expert technology and build scalable solutions for long-term recovery.”
