Lloyd's insurer Kiln launched a new class of insurance for companies needing cover against political risks.

Its managing agent is the first at Lloyd's to win permission to write long-term and domestic war on land policies.

The new class combines multi-year international war on land insurance, which had previously been limited to periods of up to 12 months.

Domestic war on land, provides cover against war in the country in which the insured company is domiciled.

The business is handled by Kiln's Syndicate 510 marine and special risks division headed by active underwriter Charles Franks. Underwriting began on 1 January.

It is expected to appeal to companies investing or doing business in emerging markets.

Kiln's underwriting director Robert Chase said: "It complements well the specialist products we currently offer and will be underwritten in conjunction with perils including terrorism, confiscation, contract frustration and exchange transfer embargo.

"Kiln's ability to provide long-term and domestic war on land cover means that, for the first time, companies can come to a Lloyd's insurer when looking to buy a comprehensive political risk policy."