Argo International (‘Argo’), announced the launch of its new Environmental Impairment Liability product.
Environmental Impairment Liability encompasses third party liability associated primarily with pollution, but also environmental damage. Events leading to pollution which can be both sudden and gradual, are covered under the policy.
Argo’s new product, which includes both Contractors Pollution Liability and Pollution Legal Liability, has been developed to address the increasing environmental liability requirements that legal developments in an ever increasing number of countries are placing on businesses. The new policies will include cover for:
– Clean-up of pollution caused by the activities of the insured
– Clean-up of pollution caused by the mobilisation or exacerbation of in-situ contamination
– Third party bodily injury and property damage
– Loss of profit / rent
James Cassidy, Underwriter, General Liability, said: "Our new EIL product has been developed in response to the increasing need our clients face for coverage to protect against environmental liabilities. Developments such as the EU Environmental Liability Directive and Canadian Environmental Protection Act highlight the growing emphasis for businesses to insure against new risks arising from environmental and pollution damage. Our new product which complements our current suite of General Liability products, will provide further security for our clients and ensure that they are covered against both traditional and new liabilities."
David Harris, Managing Director of Argo International commented: "The launch of our new EIL product is indicative of the expertise and specialist knowledge we have developed at Argo. This allows us to provide innovative coverage solutions as the market evolves, underpinned by our market leading claims team."