Chubb has launched a new Lloyd's of London consortium to provide insurance coverage for risks associated with the transit and storage of lithium batteries. The consortium, led by Chubb Global Markets (CGM), aims to address a lack of capacity in the marine cargo market for providing lithium battery transit and stock insurance. It offers a one-stop solution with limits up to $50 million for risk types associated with lithium batteries. The consortium is supported by 11 other Lloyd's syndicates and will also draw on the capabilities of Chubb Climate+, the company's global climate business unit.