A Cheltenham-based specialist global insurance broker has successfully gained the prestigious Lloyd's Broker status.

This means that Bellwood Prestbury can work within the Lloyd's London market to create bespoke cover for its clients worldwide. Bellwood Prestbury is only the second company to achieve this status in Gloucestershire.

The firm, with offices in London and Cheltenham, has been a Lloyd's Coverholder since 2010. Achieving Lloyd's Broker status gives Bellwood Prestbury the flexibility to work directly with Lloyd's underwriters to specifically tailor cover for clients in high-risk, remote or challenging areas.

Peter Bellwood, managing director, said: "Companies, non-governmental organisations and others come to us because they have operations in places like Iraq, Afghanistan or parts of Asia and Africa where standard insurance doesn't apply. Being a Lloyd's Broker now gives us even more flexibility in creating specialist cover with proper protection for their people, assets and liabilities.

"For things like terrorist threats, political violence, remote medical emergencies, kidnap and ransom, equipment, building, fleet insurance or business liabilities, bespoke cover ensures clients can fully meet their contractual agreements. It can actually save the client significant money too."

Bellwood Prestbury has been providing high-risk insurance for companies and organisations for over 17 years. Typical clients include multinationals with complex operations in multiple jurisdictions, NGOs working in war or disaster regions and smaller companies who bid for specific contracts in high-risk countries.