ACE Global Markets, the London-based wholesale insurance division of ACE Group, will offer increased capacity of $50m for global clients seeking environmental liability insurance coverage.
The announcement follows recent research by ACE which highlights environmental risk as the second highest ranking emerging risk concern for businesses across the EMEA region.
It also responds to an increasingly complex global regulatory environment in which the coverage provided by more traditional insurance policies is not sufficient for the exposures that companies face today.
Brokers and clients working with ACE Global Markets will benefit from:
Market-leading limits of US$50 million for eligible clients globally, up from US$30 million previously
Flexible cover to suit the needs of multinational, large and middle market companies across a wide range of industries
Broad coverage options including response to both pollution and environmental damage related losses, as well as clean-up costs, costs and expenses, property damage, bodily injury, trespass, nuisance or obstruction from both gradual and sudden and accidental incidents.
A dedicated team of five experienced environmental risk underwriters based in London and Manchester in the UK
Access to ACE’s wide network of environmental risk underwriters, risk engineers and claims experts across the world including in Europe, Asia Pacific, Latin and North America
Matthew Shaw, President, ACE Global Markets, said:
"Our research indicates that environmental liability is a key emerging risk concern for companies today and it is a strategic growth area for ACE. ACE Global Markets’ expanded capacity demonstrates our continuing commitment to providing wholesale brokers and their clients worldwide with market-leading underwriting solutions through our Lloyd’s and London company market platform."
Emma Bartolo, Environmental Risk Manager, UK and Ireland, said:
"Environmental exposures and the liabilities they create for businesses have become increasingly onerous and they now impact many industries more frequently, and to a greater degree. This strengthening of our proposition with available capacity of up to US$50 million reflects the changing risk environment we see at ACE and our commitment to working with London market brokers to meet their evolving client needs across the world."
The announcement follows the recent appointment of Jane Anderson as Environmental Risk Underwriter for ACE’s UK and Ireland region, based in London.