Beazley has increased its capacity for operational and fixed site environmental risks to $50 million
OREANDA-NEWS. Beazley, a leading provider of specialist environmental liability insurance, has increased its capacity for operational and fixed site environmental risks to $50 million to cover the environmental liabilities of large multi-national companies. The increased coverage limits are backed by the Beazley Elements consortium of Lloyd's insurers.
Beazley 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. Key target industries are the manufacturing, industrial, real estate, hospital and educational sectors.
"The Lloyd's market possesses unparalleled expertise and resources to address the most challenging risks confronting large businesses," said Jayne Cunningham, Beazley's environmental focus group leader. "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."
Beazley plc (BEZ) is the parent company of specialist insurance businesses with operations in Europe, the US, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd's syndicates and, in 2015, underwrote gross premiums worldwide of $2,080.9 million. All Lloyd's syndicates are rated A by A.M. Best.