Ironshore Australia can now offer terrorism and sabotage coverage of more than $300 million, after gaining access to the group’s global program.

Senior Underwriter Ian Rouse told insuranceNEWS.com.au the program was created in London last year, initially targeting the US market.

Ironshore’s Lloyd’s syndicate, Pembroke 4000, underwrites the insurance.

“We can access this capacity in Australia now,” Mr Rouse said. “Previously we could write $40 million.

“This creates the ability to write larger risks locally rather than going into the London market. However, if clients still wish to go through the London market we would support that.”

The insurance covers property damage and business interruption resulting from terrorism and sabotage, and can be extended to include strikes and civil unrest, and malicious damage.

Ironshore Australia also has $40 million capacity for political risk and war perils.