Optio Group launches $150m PVT product with Lloyd’s backing

Independent specialist MGA Optio has re-entered the political violence and terrorism (PVT) market with the launch of a new product.

The product, backed by Lloyd’s capacity, provides a £111m ($150m) limit, which Optio says will ensure “comprehensive protection against both physical and financial threats faced by businesses and organisations”.

The cover also contains the option of an active assailant add-on – often known as active shooter coverage or deadly weapon coverage – which covers the threat of physical attacks from groups or individuals using deadly weapons.

Expanded portfolio

Optio’s current portfolio of speciality products focuses on emerging risks and covers areas such as nuclear, marine, accident and health and transactional risk insurance.

Angus Bailey, head of specialty at Optio, said: “Re-entering the PVT market with £111m ($150m) of Lloyd’s-backed capacity is a significant milestone for Optio and underlines our dedication to delivering high-quality coverage.

“It also enables our capacity providers to capitalise on Optio’s growing distribution network, ensuring broad market reach and sustainable growth. We’re excited to bring this enhanced solution to the market and continue strengthening our specialty capabilities with our partners.”