One of the leading providers of specialist environmental liability insurance has increased its capacity as it looks to cover more large multinational companies.
Beazley has upped its operational and fixed site environmental risks to $50 million – with coverage limits backed by the Beazley Elements consortium of Lloyd’s insurers.
Issuing a Press release to announce the development, Beazley outlines that it covers a wide range of environmental risks including operational coverage for businesses that may face claims for polluting the premises of third parties; professional liability coverage for environmental consultants; protection for ongoing fixed site operations; contractor’s pollution liability; and brownfield site remediation.
Its key target industries are the manufacturing, industrial, real estate, hospital and educational sectors with Jayne Cunningham, the company’s environmental focus group leader, commenting that the increased capacity should help larger businesses.
“The Lloyd’s market possesses unparalleled expertise and resources to address the most challenging risks confronting large businesses,” she said.
“In recent years, the importance of Lloyd’s as a source of expertise and capacity for large scale environmental exposures has increased significantly. The increased capacity available through the Beazley Elements consortium allows us to develop more solutions for larger businesses that address a wide range of known, and potential, pollution incidents.”
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