Call centre operations outsourced abroad can now get cover after Heath Lambert said it was to sell the product developed by Lloyd’s.
The broker said it believed it was the first such offering on the market.
Heath Lambert’s political risk division, worked closely with the Lloyd’s underwriters who developed the product. It is designed to provide cover for clients with outsourced operations in India, and to a less extent, the Philippines and China, said the broker.
The product includes payouts for abandonment, relocation or extra contractual costs incurred if an outsourced office operation is forced to relocate.
Heath Lambert political risks executive director Miles Johnston, said: “With the wave of companies outsourcing back office operations to countries such as India, particularly call centres, there is now sufficient demand to make such covers viable.
“If the operation was forced to terminate, or the service contract could no longer be carried out due to political violence and war, forced divestiture or actions by the host government, this cover indemnifies the client for 100% of the abandonment, relocation and extra contractual costs incurred.
