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COVID-19 vaccine insurance facility launched at Lloyd & # 39 ;s



Lloyd & # 39 ;s of London on Wednesday said it has given preliminary approval to a syndicate that will offer coverage for COVID-19 vaccine shipments.

The syndicate 1796 will act as a "syndicate in a box", which does not require a physical presence on Lloyd & # 39 ;s. It was developed by the technology company Parsyl Inc., and it will be managed by Ascot Underwriting Ltd., says a Lloyds statement.

"The syndicate forms the basis of Lloyd & # 39 ;s new Global Health Risk Facility, which aims to provide comprehensive insurance and risk reduction services to support the manufacture and distribution of COVID-19 vaccine development efforts," the statement said.

The facility, which is expected to begin operations on October 1

, will focus on vaccine distribution supported by public health agencies for low-income countries, the statement said.

Lloyd & # 39 ;s did not respond to a request for information about policy boundaries.

Other companies involved in the project include Axa XL, a unit of Axa SA, brokers McGill and Partners, and Gavi, a public-private partnership that provides vaccination resources.

More insurance and risk management news about the coronavirus crisis here . Catalog


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