Arch Insurance Group, a division of Bermuda-based Arch Capital Group Ltd., has introduced an Environmental Multi-Line Policy (EMP), which offers insurance for environmental contractors and consultants requiring multiple coverages in one integrated policy.
The new policy has limits of liability up to $25 million, and “provides a broad coverage solution in a single, integrated package for environmental contractors and consultants who have environmental risk exposure,” the announcement indicated. “The integrated policy form offers insureds and brokers flexibility of coverage, limits, deductibles and trigger types in one well integrated and easy to understand package.”
Rich Zarandona, senior VP-Environmental Liability, described the EMP as “a ‘modular’ environmental policy that gives brokers the ability to easily tailor coverages to the requirements of their insureds without the need for extensive endorsing of the basic form. The EMP is intended to fill a void in the environmental combined product sector for middle market sized accounts.”
Arch noted the following “Product Highlights:
— Commercial General Liability, Contractors Pollution Liability, and Errors & Omissions.
— Options for individual or combined aggregate limits.
— Claims made or occurrence coverages available.
— Integrated form with one declarations page for all coverages.
— Policies may be written on a blanket or project-specific basis.
— Excess coverage is available
And the following “Target Markets:
— Environmental Contractors
— Environmental Consultants
— Environmental Project Managers
— Emergency Response Contractors
— Remediation Contractors
— Environmental Engineers
It also indicated that “coverage may not be available in all states and may vary from state to state.”
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