Ace European Group is to offer environmental liability cover specifically for smaller and mid-sized private and corporate businesses, as part of its existing liability and commercial package insurance programmes.
Ace said the new Package Pollution Liability is designed to make it easier and less costly for these companies to manage their environmental related risk and liabilities.
Ace Package Pollution Liability will be available as an endorsement to existing UK liability covers and as a new section in commercial package policies from ACE.
The company said it believes this approach will assist brokers in addressing the lack of awareness of environmental liabilities amongst businesses of this size and make it easier for them to sell the product.
Karl Russek, senior vice president, Ace Environmental Risk said: “It is not just large corporations which face potential environmental liabilities, so the competitive opportunity for brokers is clearly huge - particularly since the majority of British businesses are of a smaller size.
"These businesses are far less likely to be able to absorb the impact of an environmental problem. Environmental liability remains an uninsured risk that brokers can and should be addressing with their clients now.”
