In the wake of the Boston bombing and the Kenyan mall attack, Ironshore Inc. has announced that its global terrorism and sabotage programme, to protect against diverse risk exposure worldwide, has increased capacity to up to $300 million. The insurance coverages are underwritten by Ironshore’s Lloyd’s Pembroke Syndicate 4000.In a press release, Ironshore described the managing agency as “ ... a dedicated team of professionals with expertise in offering protection for complex, high profile acts of terrorism.”They added: “Ironshore’s insurance solution is distinct from TRIPRA in its response to terrorist acts, regardless of where the event takes place,” explaining the terrorism and sabotage product sets forth a clear definition of what constitutes an act of terrorism - “ ... which will serve as the sole determinant of coverage related to event loss, either on a full value or first loss basis.”The product covers property damage and business interruption resulting from acts of terror. “Coverage can be extended to include strikes, riots and civil commotion, as well as loss resulting from malicious damage. Comprehensive coverage also includes incurred losses sustained from defence costs, debris removal expenses, and professional fees,”said Ironshore.“An act of terrorism can strike anytime, anywhere and the consequences are devastating,” stated Kevin Kelley, chief executive officer of Ironshore.“In today’s world, following such recent acts as the Boston Marathon bombings and the attack on the Kenya mall, terrorists are striking worldwide. Global terrorism insurance coverage is essential.”Ironshore said that Pembroke Managing Agency Limited is based in London and is a Lloyd’s managing agent, established to manage Syndicate 4000 to provide speciality coverages on a global scale. “Pembroke underwrites a portfolio of speciality insurance products and operates in six distinct business lines, including Financial Institutions, Global Property, Professional Lines and Select Specialty Lines.”“Evaluating and covering the risk of war and terror that directly and indirectly impact an organisation’s assets, operations and people have been the recognised hallmark of Lloyd’s of London for over 300 years,” said Quentin Prebble, Director of Ironshore’s Marine division.