The facility aims to support clients through the complexities of trade flow disruptions between specific locations. Credit: Mongta Studio/Shutterstock.

McGill and Partners has introduced a new trade disruption insurance facility to offer coverage for businesses facing trade interruptions.  

The facility’s launch is the result of McGill and Partners’ alliance with Tokio Marine Kiln (TMK) and Convex. It offers limits of up to $95m (£75.3m), led by TMK.  

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Altana‘s AI-enabled technology supports the initiative, enhancing the understanding and underwriting of trade disruption risks, which claimed to be improving service speed and accuracy for clients and underwriters.  

This technology offers a view of global supply chains, allowing coverage and limits across various sectors and geographies.  

The facility aims to support clients through the complexities of trade flow disruptions between specific locations. 

McGill and Partners capital solutions and treaty reinsurance partner Nicky Payne said: “Given the current geopolitical climate, the launch of our ground-breaking trade disruption facility is exceptionally timely, as incidents of this nature are on the rise. 

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“Working with TMK and Convex, both recognised leaders in the market for trade disruption risk, was an obvious choice. I am proud that, together, we have brought this facility to the market for our clients.” 

TMK Special Risks Head Ed Parker said: ”AI offers the potential for us to better understand our clients, to track the movement of goods and the aggregation of exposures in real time. These new tools can enhance our offering, allow us to broaden our terms due to a greater insight into our clients’ businesses and enable us to further extend our support across supply chains.”  

Altana co-founder and CEO Evan Smith said: “This TDI (trade disruption insurance) facility represents an important step toward the delivery of AI-powered insurance solutions. We are excited to join forces with McGill and Partners, TMK and Convex, to support businesses in managing through increasing global supply chain dislocations.” 

In March this year, McGill and Partners launched a fire safety reinsurance facility to address the insurance challenges associated with buildings that have combustible cladding and fire safety issues.  

It is in collaboration with Association of British Insurers and the British Insurance Brokers’ Association.