ACE UK has today launched its new Environmental Protect policy offering coverage for both small to medium sized companies and multinational operations. The new policy reflects ACE UK’s 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 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 a standalone and endorsement basis. All risks will be underwritten individually by the ACE Environmental Risk team, based in London and Manchester.
The new policy form includes the well-established coverages under ACE’s Premises and Contractors Pollution Liability policies, but can also offer the following protection without endorsement:
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Liability under the Environmental Liability Directive, not limited to pollution events and including loss mitigation costs;
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First-party transportation liability;
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Products pollution liability;
Environmental Protect is aimed primarily at ongoing operational environmental risks, but can also address the legacy liabilities from historical contaminated land exposures.
Wayne Harrington, UK & Ireland Manager for ACE Environmental Risk, said: “The demand for specialist environmental risk products is growing across all markets so our new wording will enable us to better target buyers with a straightforward, accessible solution, which also provides significant flexibility and breadth of coverage to meet their needs.
“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.”
ACE UK recently announced of the appointment of Victoria Keeble as Environmental Risk Underwriter to work in the Environmental Risk team in London.