BPL Global has become the first broker to have placed a credit and political risk insurance (CPRI) policy on PPL, the London insurance market’s electronic placing platform.
PPL is an electronic placing platform which enables brokers and insurers to quote, negotiate, bind and endorse business digitally. It was designed to allow participants in the London Market to place risks electronically in order to support face-to-face negotiations while removing paper from the process and thus creating a digital information flow and audit trail.
Sian Aspinall, Managing Director of BPL Global, comments: “We pride ourselves on being an innovator in our specialist line of business, so we’re pleased to be the first broker to have placed a CPRI risk via PPL. It’s an important step in the digitalisation of the London market and will help drive further efficiency, speed and accuracy, which will ultimately be of benefit to our clients.”
The policy was placed with XL Catlin.