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ACE Launches New Environmental Risk Cover

IBR Staff Writer Published 11 April 2010

ACE has launched new policy Environmental Protect offering coverage for both small to medium sized companies and multinational operations.

The company cliams that the new policy reflects its commitment to providing all markets with the broadest cover and comes as submissions from regional and London market brokers across a range of risks continue to increase.

ACE said that its Environmental Protect has been developed to provide a broad standard wording and the flexibility of coverage for multiple markets including UK corporate risk, multi-national operations and major risk casualty business. It can be provided on endorsement basis. All risks will be underwritten individually by the ACE Environmental Risk team, based in London and Manchester.

According to ACE, the new policy form includes the well-established coverages under its premises and contractors pollution liability policies, but can also offer protection without endorsement that include liability under the environmental liability directive, not limited to pollution events and including loss mitigation costs; first-party transportation liability; and products pollution liability.

In addition, the Environmental Protect is aimed primarily at ongoing operational environmental risks, but can also address the legacy liabilities from historical contaminated land exposures. ACE UK has appointed Victoria Keeble as Environmental Risk Underwriter to work in the Environmental Risk team in London.

Wayne Harrington, UK and Ireland manager for ACE Environmental Risk, said: “Environmental liability cover goes well beyond the limits of traditional property and casualty insurance products. Educating brokers on its role and relevance has been a significant challenge in the acceptance and growth of the product.

“As a leading provider we have placed great emphasis on supporting brokers in getting the most from the coverage and that investment is now paying off.”