Arch Insurance International has launched a regional event insurance product. It provides traditional indemnity protection for cancellation, as well as a parametric option providing cover on an agreed value basis. The product is available via Arch IQ, a new quote and bind platform. Cover extension options include civil commotion, computer system failure, key person, national mourning and terrorism.

Chris Rackliffe, head of contingency and accident and health at Arch, said: “The launch of our regional event cancellation insurance via Arch IQ is an exciting milestone in our digital strategy to improve our service capabilities and deliver the speed and efficiency of online trading supported by dedicated underwriting expertise.

“Our aim is to provide quick and simple access to complex events coverage for insurance buyers who may have traditionally found it difficult to obtain this type of protection, and with our innovative agreed value option, insureds have the reassurance of a swift claims service.”