Product targeted at large and small companies
ACE has launched its new environmental policy.
The ACE Environmental Protect has been developed to provide a broad standard wording and flexible coverage for multiple markets, including UK corporate risk, multinational operations and major risk casualty business.
The insurer says it can be provided on a standalone and endorsement basis, with all risks underwritten individually by the ACE environmental risk team, based in London and Manchester.
The new policy form includes the coverages under ACE’s premises and contractors' pollution liability policies, but can also offer the following protection without endorsement:
• liability under the Environmental Liability Directive, not limited to pollution events and including loss mitigation costs;
• first-party transportation liability; and
• 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.
ACE UK & Ireland manager Wayne Harrington 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.”