US based underwriter Chartis, a division of AIG insurers has incorporated PLL Power Pack Protect to its NextGen Protection suite of industry specific insurance products.
The newly added insurance policy has been developed to address environmental exposures associated with ancillary assets such as transmissions systems in the power generation industry, the insurer said.
Power generation industry has always been on the verge of environmental risk exposure and polluting conditions at power transmission centre can cause financial hardship for the power generator, thus adversely affecting their operating budget.
The newly commissioned PLL Power Pack Protect combined with Crisis Response and Crisis Management is an ideal insurance solution tailored to the environmental pollution risks associated with power generation and transmission systems, claims Chartis.
Chartis environmental division executive Lana Keppel said, "We believe this newest addition to the suite of innovative NextGen Protection products strengthens our customers’ efforts to take a proactive approach to managing the environmental exposures associated with this constantly evolving and growing industry."
Chartis, a property-casualty and general insurance company serves more than 70 million customers across the globe.