Willis launches $200m facility to tackle global geopolitical uncertainty for cargo owners
LONDON, July 08, 2025 (GLOBE NEWSWIRE) -- Willis, a WTW business (NASDAQ:WTW), has launched ‘Undercover', a new $200 million facility, combining coverage for a range of geopolitical exposures faced by cargo owners worldwide.
Developed by Willis in a joint proposition with specialist insurer, Markel, Undercover offers a unique approach to the risk transfer of cargo, war on land, terrorism, political violence and confiscation coverage, with sections of coverage selected based on the individual needs of the client. This single-facility approach minimizes coverage gaps and reduces the likelihood of claims disputes, as well as removing the need to establish the motivation for a claim.
In challenging times of political instability, Undercover offers certainty of cover to cargo owners. It also provides protection from fluctuating insurance costs when country risk ratings change, as cargo cover is frequently provided on a global basis.
Ben Abraham, Global CEO, Willis Marine, said, "In a period of heightened geopolitical risk, cargo owners face enormous uncertainty in fast changing situations. This innovative solution is the first that offers a clear, comprehensive approach to cover, offering the maximum certainty exactly when it's needed and when the worst happens."
Brook Styles, Head of Cargo, Markel International said: "The transportation of goods is highly sensitive to geopolitical uncertainty, which has the potential to disrupt trade routes, increase operating costs and put pressure on the resilience of global supply chains. We're therefore pleased to have launched this new product, which provides support to cargo owners by helping them navigate today's complex geopolitical risk environment with added confidence, clarity and simplicity."
For more information on the risks covered: https://www.wtwco.com/en-gb/solutions/products/undercover
About WTW
At WTW (NASDAQ:WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Willis is one of the oldest names in marine insurance having commenced as a marine broker in 1828. Our Global Marine team has 650+ marine risk and insurance specialists work together address the needs of the marine sector through innovative risk advice and customized solutions. Within Global Marine, our 200+ cargo insurance experts work within an industry practice framework to provide sector specific advice and a risk-centred solutions. Our teams collaborate to ensure our clients are getting the best of Willis across the geographies and sectors we serve.
About Markel
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE:MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
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