THB PLACES FIRST RISK WITH LLOYD’S VACCINE TRANSPORT FACILITY

London market broker THB has placed the first risk with the Global Health Risk Facility (GHRF), a public-private facility underwritten at Lloyd’s to insure risks associated with the distribution of vaccines. The facility is anchored by Lloyd’s syndicate 1796, led by Ascot and developed by insurtech Parsyl. THB worked with specialist US retail broker Armfield, Harrison & Thomas to arrange insurance for the Partnership for Supply Chain Management (PFSCM) a supply chain solutions provider. Chris McGill, head of cargo at Ascot and active underwriter for Syndicate 1796, said: “This new syndicate is a game-changer for healthcare in the developing world where, without the right data, insuring these vital products simply doesn’t happen.”