Bowring Marsh, the International Specialist Broker at Marsh, today announced the creation of BowringX, an excess property facility providing ‘all risk’ capacity, including Named Windstorm and Earthquake where required, to meet the needs of National Brokerage clients. Leadership of this facility is provided exclusively to Bowring Marsh (Bermuda) Ltd. by Lancashire Insurance Company Ltd.

BowringX is designed to offer large limits to national brokerage domestic business. Substantial limits will be available for both all risk and catastrophe perils; up to $25 million - $50 million for catastrophic exposure and up to $100 million for non-catastrophic perils. The maximum catastrophe line will be made available where the Lancashire capacity is utilized as a share of a larger limit. In these instances the facility’s share will normally not exceed 10% of total limit placed.

Unique to BowringX are its 18-month Extended Period of Indemnity and optional ‘green’ wording for replacement cost coverage on the basis of the Leadership in Energy and Environmental Design (LEED) Rating System. BowringX is able to generate the insured’s final policy form at inception, thereby providing immediate contract certainty.

Commenting on the launch of BowringX, Thomas Cechini, a Managing Director at Bowring Marsh in Bermuda, said: “This facility fulfills a significant yet currently unmet need. Companies exposed to catastrophic wind and earthquake risks require access to large limits of capacity and the security of immediate contract certainty. In addition to offering an extended indemnity period, BowringX uniquely provides that combination. We anticipate major interest in this facility.

“Bowring Marsh is proud to be again at the forefront of proactively identifying and then developing products that match the needs of organisations around the world.”

BowringX is the latest in a line of new products launched by Bowring Marsh since its inception in June 2008. Last month, it announced the creation of the Bowring Marsh Excess (BMEx), an excess liability facility providing up to $100 million in capacity to meet the needs of clients across all industry classes. It has also created five bespoke risk transfer products covering property, casualty and terrorism risks.